Short Interest in Ingersoll Rand Inc. (NYSE:IR) Decreases By 9.6%

Ingersoll Rand Inc. (NYSE:IR) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 8,940,000 shares, a drop of 9.6% from the August 15th total of 9,890,000 shares. Based on an average daily volume of 2,410,000 shares, the short-interest ratio is currently 3.7 days. Approximately 2.2% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wells Fargo & Company cut their price target on Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group assumed coverage on Ingersoll Rand in a report on Friday, June 21st. They issued a “buy” rating and a $110.00 price target on the stock. Robert W. Baird lifted their price target on Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Barclays cut their price target on Ingersoll Rand from $106.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Cfra restated a “hold” rating and set a $85.00 target price on shares of Ingersoll Rand in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Insider Activity

In related news, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the completion of the sale, the insider now directly owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total transaction of $1,380,290.94. Following the transaction, the insider now directly owns 39,486 shares in the company, valued at approximately $3,543,473.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vicente Reynal sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $92.51, for a total value of $4,625,500.00. Following the transaction, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. The disclosure for this sale can be found here. Insiders sold 77,510 shares of company stock valued at $7,108,005 in the last ninety days. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

Several large investors have recently bought and sold shares of IR. Greenleaf Trust grew its position in shares of Ingersoll Rand by 2.0% in the first quarter. Greenleaf Trust now owns 5,921 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 118 shares in the last quarter. Wealthspire Advisors LLC grew its position in shares of Ingersoll Rand by 5.5% in the second quarter. Wealthspire Advisors LLC now owns 2,268 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 119 shares in the last quarter. Spire Wealth Management grew its position in shares of Ingersoll Rand by 8.5% in the first quarter. Spire Wealth Management now owns 1,603 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 126 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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. Finally, Resonant Capital Advisors LLC grew its position in shares of Ingersoll Rand by 4.2% in the second quarter. Resonant Capital Advisors LLC now owns 3,300 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 133 shares in the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.

Ingersoll Rand Price Performance

NYSE IR traded up $3.03 during trading hours on Tuesday, reaching $93.97. The company’s stock had a trading volume of 2,155,234 shares, compared to its average volume of 2,587,186. The firm has a market capitalization of $37.91 billion, a price-to-earnings ratio of 46.75, a P/E/G ratio of 2.53 and a beta of 1.42. Ingersoll Rand has a 1-year low of $59.20 and a 1-year high of $101.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The company’s 50-day moving average is $92.44 and its two-hundred day moving average is $92.16.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Ingersoll Rand had a return on equity of 13.00% and a net margin of 11.73%. On average, equities analysts predict that Ingersoll Rand will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.98%.

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.