Ingersoll Rand Inc. (NYSE:IR) Short Interest Down 5.9% in November

Ingersoll Rand Inc. (NYSE:IR - Get Free Report) saw a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 9,260,000 shares, a decrease of 5.9% from the November 15th total of 9,840,000 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily volume of 2,180,000 shares, the days-to-cover ratio is presently 4.2 days.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their price target on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Wolfe Research upgraded Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. UBS Group assumed coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a "buy" rating and a $124.00 price target for the company. The Goldman Sachs Group increased their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Finally, Evercore ISI reduced their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an "in-line" rating for the company in a research report on Monday, August 19th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand currently has an average rating of "Moderate Buy" and a consensus price target of $107.67.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock traded down $2.30 on Tuesday, reaching $97.55. 3,034,356 shares of the stock were exchanged, compared to its average volume of 2,469,952. The firm's 50 day moving average is $101.07 and its 200-day moving average is $95.87. The firm has a market cap of $39.31 billion, a PE ratio of 47.59, a P/E/G ratio of 3.86 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand has a one year low of $74.01 and a one year high of $106.03.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was 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 (DPR) is currently 3.90%.

Insider Activity

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of the company'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 transaction, the chief accounting officer now directly owns 11,910 shares in the company, valued at $1,160,510.40. The trade was a 17.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is owned by insiders.

Institutional Trading of Ingersoll Rand

Several institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of Ingersoll Rand by 11.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,327 shares of the industrial products company's stock worth $1,483,000 after buying an additional 1,697 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Ingersoll Rand by 10.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,913 shares of the industrial products company's stock worth $628,000 after purchasing an additional 645 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Ingersoll Rand by 4.4% in the second quarter. Assenagon Asset Management S.A. now owns 13,232 shares of the industrial products company's stock valued at $1,202,000 after purchasing an additional 559 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Ingersoll Rand by 308.0% during the second quarter. Blue Trust Inc. now owns 1,020 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 770 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Ingersoll Rand by 17.4% during the second quarter. Raymond James & Associates now owns 234,153 shares of the industrial products company's stock worth $21,270,000 after purchasing an additional 34,754 shares during the last quarter. 95.27% of the stock is currently owned by 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.