Ingersoll Rand Inc. (NYSE:IR) Short Interest Down 9.4% in January

Ingersoll Rand Inc. (NYSE:IR) saw a significant decrease in short interest in January. As of January 31st, there was short interest totalling 8,500,000 shares, a decrease of 9.4% from the January 15th total of 9,380,000 shares. Based on an average daily volume of 2,090,000 shares, the short-interest ratio is presently 4.1 days. Approximately 2.1% of the company’s shares are sold short.

Ingersoll Rand Stock Down 7.3 %

Ingersoll Rand stock traded down $6.76 during midday trading on Monday, reaching $85.79. The company’s stock had a trading volume of 7,441,849 shares, compared to its average volume of 2,111,534. The company has a market cap of $34.58 billion, a P/E ratio of 41.85, a P/E/G ratio of 3.66 and a beta of 1.43. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $92.75 and a 200-day simple moving average of $95.12. Ingersoll Rand has a fifty-two week low of $83.72 and a fifty-two week high of $106.03.

Ingersoll Rand (NYSE:IR) last issued its earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Ingersoll Rand had a return on equity of 13.01% and a net margin of 11.72%. On average, research analysts expect that Ingersoll Rand will post 3.2 earnings per share for the current fiscal year.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 5th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Wednesday, March 5th. Ingersoll Rand’s payout ratio is 3.90%.

Institutional Investors Weigh In On Ingersoll Rand

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rafferty Asset Management LLC boosted its stake in Ingersoll Rand by 16.8% in the fourth quarter. Rafferty Asset Management LLC now owns 39,519 shares of the industrial products company’s stock valued at $3,575,000 after acquiring an additional 5,688 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Ingersoll Rand in the 4th quarter valued at about $2,765,000. ProShare Advisors LLC grew its stake in Ingersoll Rand by 9.3% during the 4th quarter. ProShare Advisors LLC now owns 72,774 shares of the industrial products company’s stock worth $6,583,000 after buying an additional 6,166 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Ingersoll Rand by 30.1% in the fourth quarter. Quantinno Capital Management LP now owns 21,327 shares of the industrial products company’s stock valued at $1,929,000 after buying an additional 4,936 shares during the last quarter. Finally, Mufg Securities Americas Inc. acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at approximately $538,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IR. Barclays dropped their price objective on Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their target price on Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Robert W. Baird reduced their price target on shares of Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Citigroup lowered their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, The Goldman Sachs Group upped their target price on shares of Ingersoll Rand from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Ingersoll Rand presently has an average rating of “Moderate Buy” and a consensus target price of $105.92.

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.