Ingersoll Rand Inc. (NYSE:IR) Sees Large Increase in Short Interest

Ingersoll Rand Inc. (NYSE:IR) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 9,590,000 shares, a growth of 5.7% from the September 15th total of 9,070,000 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 2,470,000 shares, the short-interest ratio is presently 3.9 days.

Analysts Set New Price Targets

IR has been the topic of several research reports. Barclays boosted their price target on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on shares of Ingersoll Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Morgan Stanley initiated coverage on shares of Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Ingersoll Rand in a research report on Friday, June 21st. They issued a “buy” rating and a $110.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.17.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock opened at $101.03 on Friday. Ingersoll Rand has a 52-week low of $59.20 and a 52-week high of $102.74. The stock has a market capitalization of $40.76 billion, a price-to-earnings ratio of 50.26, a price-to-earnings-growth ratio of 2.72 and a beta of 1.42. The company has a fifty day moving average of $93.87 and a 200-day moving average of $93.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 2.18.

Ingersoll Rand (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Equities research analysts expect that Ingersoll Rand will post 3.22 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. Ingersoll Rand’s dividend payout ratio is currently 3.98%.

Insider Buying and Selling

In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Ingersoll Rand news, insider Vicente Reynal sold 50,000 shares of Ingersoll Rand stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total transaction of $416,563.71. Following the completion of the sale, the insider now directly owns 3,829 shares in the company, valued at approximately $344,571.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,510 shares of company stock worth $7,108,005. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in Ingersoll Rand during the 2nd quarter valued at $25,000. Kapitalo Investimentos Ltda bought a new stake in Ingersoll Rand during the 4th quarter valued at $28,000. Headlands Technologies LLC bought a new stake in Ingersoll Rand during the 1st quarter valued at $28,000. Riverview Trust Co bought a new stake in Ingersoll Rand during the 1st quarter valued at $29,000. Finally, Scarborough Advisors LLC bought a new stake in Ingersoll Rand during the 4th quarter valued at $32,000. 95.27% of the stock is currently owned by institutional investors.

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.