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

Ingersoll Rand Inc. (NYSE:IR) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 9,170,000 shares, a decline of 6.2% from the October 15th total of 9,780,000 shares. Based on an average daily volume of 2,210,000 shares, the short-interest ratio is currently 4.1 days. Approximately 2.3% of the company’s stock are short sold.

Ingersoll Rand Trading Down 0.1 %

NYSE:IR traded down $0.07 during midday trading on Monday, reaching $102.36. 205,237 shares of the stock traded hands, compared to its average volume of 2,521,513. The stock has a market capitalization of $41.25 billion, a P/E ratio of 49.97, a PEG ratio of 3.89 and a beta of 1.42. Ingersoll Rand has a 12 month low of $69.46 and a 12 month high of $105.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. The company has a fifty day moving average of $97.83 and a 200 day moving average of $94.25.

Ingersoll Rand Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given a $0.02 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and lowered their price objective for the company from $112.00 to $107.00 in a research note on Monday. Cfra upped their price target on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Morgan Stanley began coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 price objective for the company. Robert W. Baird reduced their price objective on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, Evercore ISI lowered their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus target price of $103.83.

Insider Buying and Selling at Ingersoll Rand

In other Ingersoll Rand news, insider Kathleen M. Keene sold 4,629 shares of the stock in a transaction on 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 transaction, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This represents a 54.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the sale, the chief accounting officer now owns 11,910 shares in the company, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,660 shares of company stock worth $1,348,834. Insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

Several institutional investors and hedge funds have recently bought and sold shares of IR. Coldstream Capital Management Inc. grew its position in Ingersoll Rand by 9.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,601 shares of the industrial products company’s stock valued at $750,000 after purchasing an additional 639 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ingersoll Rand by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 9,436,467 shares of the industrial products company’s stock valued at $923,087,000 after purchasing an additional 54,952 shares during the last quarter. MidWestOne Financial Group Inc. bought a new stake in shares of Ingersoll Rand in the 3rd quarter worth $207,000. M&T Bank Corp increased its holdings in Ingersoll Rand by 1.1% in the 3rd quarter. M&T Bank Corp now owns 30,088 shares of the industrial products company’s stock worth $2,953,000 after buying an additional 329 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Ingersoll Rand by 5.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 119,190 shares of the industrial products company’s stock worth $11,700,000 after purchasing an additional 6,318 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Company Profile

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.