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

Ingersoll Rand Inc. (NYSE:IR - Get Free Report) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 9,170,000 shares, a drop 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 presently 4.1 days. Approximately 2.3% of the company's shares are sold short.

Insider Transactions at Ingersoll Rand

In other news, 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 transaction of $246,620.64. Following 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Elizabeth Meloy Hepding sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $91.42, for a total transaction of $685,650.00. Following the sale, the insider now directly owns 6,559 shares in the company, valued at $599,623.78. The trade was a 53.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,660 shares of company stock valued at $1,348,834. Company insiders own 0.68% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Avantax Advisory Services Inc. purchased a new stake in shares of Ingersoll Rand in the first quarter valued at $237,000. Covestor Ltd raised its holdings in Ingersoll Rand by 184.3% in the first quarter. Covestor Ltd now owns 634 shares of the industrial products company's stock worth $60,000 after purchasing an additional 411 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Ingersoll Rand by 29.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 16,711 shares of the industrial products company's stock valued at $1,587,000 after acquiring an additional 3,772 shares in the last quarter. UniSuper Management Pty Ltd boosted its position in shares of Ingersoll Rand by 308.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 15,557 shares of the industrial products company's stock worth $1,477,000 after purchasing an additional 11,751 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Ingersoll Rand by 1.3% during the first quarter. Bessemer Group Inc. now owns 22,148 shares of the industrial products company's stock worth $2,102,000 after acquiring an additional 285 shares during the last quarter. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on IR. UBS Group initiated coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a "buy" rating and a $124.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Robert W. Baird dropped their target price on shares of Ingersoll Rand from $114.00 to $109.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. Stifel Nicolaus lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and decreased their target price for the company from $112.00 to $107.00 in a research note on Monday. Finally, Evercore ISI dropped their price target on 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 assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.83.

Ingersoll Rand Price Performance

IR traded down $0.78 during trading on Monday, reaching $101.65. 1,821,349 shares of the company traded hands, compared to its average volume of 2,528,795. 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 firm has a fifty day simple moving average of $97.83 and a 200 day simple moving average of $94.25. Ingersoll Rand has a 12-month low of $69.46 and a 12-month high of $105.63. The company has a market cap of $40.97 billion, a P/E ratio of 49.97, a PEG ratio of 3.89 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be given a $0.02 dividend. The ex-dividend date of this dividend 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%.

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.