Short Interest in Ingersoll Rand Inc. (NYSE:IR) Decreases By 9.4%

Ingersoll Rand Inc. (NYSE:IR) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 8,500,000 shares, a drop of 9.4% from the January 15th total of 9,380,000 shares. Based on an average daily volume of 2,090,000 shares, the days-to-cover ratio is presently 4.1 days. Approximately 2.1% of the shares of the company are short sold.

Ingersoll Rand Stock Performance

Shares of NYSE:IR opened at $86.66 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The business’s 50 day moving average price is $92.41 and its 200-day moving average price is $95.08. The firm has a market capitalization of $34.92 billion, a PE ratio of 42.27, a P/E/G ratio of 3.66 and a beta of 1.43. Ingersoll Rand has a 1 year low of $83.72 and a 1 year high of $106.03.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 13.01% and a net margin of 11.72%. As a group, equities research analysts expect that Ingersoll Rand will post 3.2 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Wednesday, March 5th will be given a $0.02 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Institutional Investors Weigh In On Ingersoll Rand

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IR. Exchange Traded Concepts LLC purchased a new stake in shares of Ingersoll Rand in the 3rd quarter valued at $245,000. Creative Planning raised its holdings in shares of Ingersoll Rand by 66.2% in the 3rd quarter. Creative Planning now owns 109,961 shares of the industrial products company’s stock valued at $10,794,000 after buying an additional 43,801 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Ingersoll Rand by 128.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 17,914 shares of the industrial products company’s stock valued at $1,758,000 after buying an additional 10,058 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Ingersoll Rand by 2.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 65,309 shares of the industrial products company’s stock valued at $6,411,000 after buying an additional 1,283 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Ingersoll Rand by 167.5% in the 3rd quarter. Blue Trust Inc. now owns 2,729 shares of the industrial products company’s stock valued at $248,000 after buying an additional 1,709 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Ingersoll Rand from $105.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price target on Ingersoll Rand from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays reduced their price target on Ingersoll Rand from $115.00 to $102.00 and set an “overweight” rating for the company in a research report on Tuesday. Stifel Nicolaus reduced their price target on Ingersoll Rand from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Citigroup dropped their price objective on Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $104.50.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.