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

Ingersoll Rand Inc. (NYSE:IR) was the recipient of a significant drop in short interest in 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. Approximately 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,410,000 shares, the short-interest ratio is presently 3.7 days.

Insider Buying and Selling

In other Ingersoll Rand news, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the transaction, the insider now owns 39,486 shares of the company’s stock, valued at $3,543,473.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ingersoll Rand news, insider Elizabeth Meloy Hepding sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $91.42, for a total value of $685,650.00. Following the completion of the transaction, the insider now directly owns 6,559 shares in the company, valued at $599,623.78. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew R. Schiesl sold 15,381 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,510 shares of company stock worth $7,108,005. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Ingersoll Rand

A number of hedge funds have recently bought and sold shares of IR. Ridgewood Investments LLC bought a new position in shares of Ingersoll Rand in the second quarter worth about $25,000. Kapitalo Investimentos Ltda acquired a new stake in Ingersoll Rand in the 4th quarter valued at approximately $28,000. Headlands Technologies LLC bought a new position in Ingersoll Rand in the 1st quarter worth approximately $28,000. Riverview Trust Co bought a new stake in shares of Ingersoll Rand in the first quarter valued at approximately $29,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Ingersoll Rand in the fourth quarter worth $32,000. 95.27% of the stock is currently owned by institutional investors.

Ingersoll Rand Stock Down 0.2 %

Shares of IR stock traded down $0.23 on Wednesday, hitting $93.74. The company’s stock had a trading volume of 2,198,883 shares, compared to its average volume of 2,585,110. The stock has a market capitalization of $37.82 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 fifty-two week low of $59.20 and a fifty-two week high of $101.30. The firm’s fifty day moving average price is $92.44 and its 200-day moving average price is $92.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52.

Ingersoll Rand (NYSE:IR) last announced 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%. Research analysts anticipate that Ingersoll Rand will post 3.21 EPS for the current year.

Ingersoll Rand Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend 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 presently 3.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Robert W. Baird raised their target price on Ingersoll Rand from $109.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Evercore ISI lowered their target price 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. Wells Fargo & Company reduced their price target on shares of Ingersoll Rand from $102.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Cfra reaffirmed a “hold” rating and set a $85.00 price objective on shares of Ingersoll Rand in a research report on Friday, August 2nd. Finally, Stifel Nicolaus upped their price objective on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $100.00.

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.