Ingersoll Rand Sees Unusually High Options Volume (NYSE:IR)

Ingersoll Rand Inc. (NYSE:IR) was the target of some unusual options trading on Tuesday. Stock traders bought 4,102 call options on the company. This represents an increase of approximately 224% compared to the average daily volume of 1,265 call options.

Ingersoll Rand Stock Down 0.1 %

Shares of IR opened at $89.80 on Thursday. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $36.23 billion, a PE ratio of 44.68, a P/E/G ratio of 2.91 and a beta of 1.43. The firm’s 50 day moving average is $91.90 and its 200-day moving average is $87.35. Ingersoll Rand has a 12 month low of $59.20 and a 12 month high of $96.67.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. Equities research analysts forecast that Ingersoll Rand will post 3.18 EPS for the current year.

Ingersoll Rand Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Wednesday, May 15th. Ingersoll Rand’s dividend payout ratio is presently 3.98%.

Ingersoll Rand announced that its board has authorized a stock repurchase plan on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

IR has been the subject of a number of research reports. StockNews.com downgraded Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Barclays lowered their price objective on shares of Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Stifel Nicolaus restated a “buy” rating and set a $102.00 target price on shares of Ingersoll Rand in a report on Tuesday, March 26th. Citigroup raised their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company cut their price target on shares of Ingersoll Rand from $105.00 to $98.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 198,486 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total value of $17,488,601.46. Following the sale, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ingersoll Rand news, insider Andrew R. Schiesl sold 22,369 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the completion of the transaction, the insider now directly owns 30,846 shares of the company’s stock, valued at $2,843,075.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the sale, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in shares of Ingersoll Rand during the 1st quarter valued at $28,000. Riverview Trust Co acquired a new stake in shares of Ingersoll Rand during the first quarter valued at about $29,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of Ingersoll Rand during the fourth quarter worth about $27,000. Kapitalo Investimentos Ltda acquired a new position in shares of Ingersoll Rand in the fourth quarter valued at approximately $28,000. Finally, ESL Trust Services LLC bought a new position in Ingersoll Rand in the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds 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.