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

Ingersoll Rand Inc. (NYSE:IR) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 10,380,000 shares, an increase of 8.0% from the May 31st total of 9,610,000 shares. Based on an average trading volume of 2,840,000 shares, the short-interest ratio is presently 3.7 days. Currently, 2.6% of the shares of the company are short sold.

Insiders Place Their Bets

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

Institutional Trading of Ingersoll Rand

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in shares of Ingersoll Rand in the first quarter worth $28,000. Riverview Trust Co acquired a new position in Ingersoll Rand in the first quarter valued at $29,000. ANTIPODES PARTNERS Ltd acquired a new position in Ingersoll Rand in the fourth quarter valued at $27,000. Kapitalo Investimentos Ltda acquired a new position in Ingersoll Rand in the fourth quarter valued at $28,000. Finally, ESL Trust Services LLC acquired a new position in Ingersoll Rand in the first quarter valued at $35,000. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Stock Performance

IR stock traded up $0.82 during mid-day trading on Tuesday, hitting $90.36. 472,404 shares of the company were exchanged, compared to its average volume of 2,682,129. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.27. Ingersoll Rand has a 1-year low of $59.20 and a 1-year high of $96.67. The business has a 50 day simple moving average of $92.00 and a 200-day simple moving average of $87.70. The stock has a market capitalization of $36.45 billion, a PE ratio of 44.55, a price-to-earnings-growth ratio of 2.65 and a beta of 1.45.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. Ingersoll Rand had a net margin of 11.85% and a return on equity of 12.57%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.70 billion. On average, equities analysts forecast that Ingersoll Rand will post 3.19 earnings per share for the current year.

Ingersoll Rand Dividend Announcement

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

Ingersoll Rand announced that its board has authorized a share repurchase program on Thursday, April 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have commented on IR shares. Robert W. Baird boosted their target price on Ingersoll Rand from $107.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Jefferies Financial Group assumed coverage on Ingersoll Rand in a research note on Friday, June 21st. They set a “buy” rating and a $110.00 price target for the company. BNP Paribas assumed coverage on Ingersoll Rand in a research note on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 target price for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $102.00 target price on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Finally, Barclays lowered their target price on Ingersoll Rand from $105.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.00.

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.