Ingersoll Rand Inc. (NYSE:IR) Short Interest Update

Ingersoll Rand Inc. (NYSE:IR - Get Free Report) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 9,840,000 shares, a growth of 7.3% from the October 31st total of 9,170,000 shares. Based on an average daily volume of 2,260,000 shares, the days-to-cover ratio is presently 4.4 days. Currently, 2.5% of the shares of the stock are short sold.

Ingersoll Rand Price Performance

Shares of IR traded down $0.86 during trading hours on Tuesday, hitting $104.26. The stock had a trading volume of 1,775,409 shares, compared to its average volume of 2,499,111. The stock has a market capitalization of $42.02 billion, a price-to-earnings ratio of 50.86, a P/E/G ratio of 3.99 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The company's fifty day moving average is $100.46 and its two-hundred day moving average is $95.35. Ingersoll Rand has a 52 week low of $71.21 and a 52 week high of $106.03.

Ingersoll Rand Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be issued 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 yield of 0.08%. Ingersoll Rand's dividend payout ratio is presently 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 stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares of the company's stock, valued at approximately $1,160,510.40. This represents 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 accessible through the SEC website. Insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On Ingersoll Rand

Several institutional investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand during the 2nd quarter worth approximately $25,000. Ashton Thomas Securities LLC bought a new position in Ingersoll Rand during the 3rd quarter worth $34,000. EverSource Wealth Advisors LLC raised its stake in Ingersoll Rand by 38.5% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 126 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Ingersoll Rand by 196.8% during the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company's stock worth $42,000 after acquiring an additional 309 shares during the period. Finally, Eastern Bank bought a new position in shares of Ingersoll Rand in the 3rd quarter valued at $42,000. 95.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IR has been the topic of a number of research reports. Evercore ISI lowered their price objective 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. Wolfe Research raised shares of Ingersoll Rand to a "hold" rating in a research note on Friday, September 20th. Stifel Nicolaus cut Ingersoll Rand from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $112.00 to $107.00 in a report on Monday, November 18th. Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Finally, Morgan Stanley assumed coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They set an "equal weight" rating and a $97.00 price objective for the company. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.83.

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.