Ingersoll Rand Inc. (NYSE:IR) Sees Significant Drop in Short Interest

Ingersoll Rand Inc. (NYSE:IR - Get Free Report) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 8,500,000 shares, a decrease 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 short-interest ratio is currently 4.1 days. Approximately 2.1% of the shares of the company are sold short.

Ingersoll Rand Price Performance

Shares of Ingersoll Rand stock traded down $3.11 during trading on Friday, reaching $83.66. 2,647,871 shares of the stock traded hands, compared to its average volume of 2,521,872. The company has a market capitalization of $33.72 billion, a price-to-earnings ratio of 40.61, a P/E/G ratio of 3.47 and a beta of 1.43. The business has a fifty day simple moving average of $91.15 and a two-hundred day simple moving average of $94.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.29 and a quick ratio of 1.71. Ingersoll Rand has a 52-week low of $83.26 and a 52-week high of $106.03.

Ingersoll Rand (NYSE:IR - Get Free Report) last issued 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 firm had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.91 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. Sell-side analysts expect that Ingersoll Rand will post 3.31 EPS for the current year.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Ingersoll Rand's payout ratio is 3.88%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. The Goldman Sachs Group upped their price objective on Ingersoll Rand from $109.00 to $121.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Barclays reduced their price objective on Ingersoll Rand from $115.00 to $102.00 and set an "overweight" rating for the company in a research note on Tuesday. Robert W. Baird upped 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. UBS Group initiated 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. Finally, Wells Fargo & Company cut their price target on Ingersoll Rand from $115.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Ingersoll Rand has a consensus rating of "Moderate Buy" and an average price target of $104.75.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Ingersoll Rand in the 3rd quarter valued at about $34,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Ingersoll Rand in the 4th quarter valued at about $36,000. Eastern Bank bought a new position in shares of Ingersoll Rand in the 3rd quarter valued at about $42,000. OFI Invest Asset Management bought a new position in shares of Ingersoll Rand in the 4th quarter valued at about $38,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Ingersoll Rand in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 95.27% of the company's stock.

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.