Ingersoll Rand Inc. (NYSE:IR) Short Interest Down 6.2% in October

Ingersoll Rand Inc. (NYSE:IR) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 9,170,000 shares, a decline of 6.2% from the October 15th total of 9,780,000 shares. Based on an average trading volume of 2,210,000 shares, the short-interest ratio is presently 4.1 days. Approximately 2.3% of the shares of the stock are short sold.

Ingersoll Rand Trading Down 0.1 %

Shares of IR stock traded down $0.07 during trading hours on Monday, hitting $102.36. 205,237 shares of the company’s stock traded hands, compared to its average volume of 2,521,513. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46. Ingersoll Rand has a 12 month low of $69.46 and a 12 month high of $105.63. The stock has a market cap of $41.25 billion, a PE ratio of 49.97, a price-to-earnings-growth ratio of 3.89 and a beta of 1.42. The stock’s 50 day simple moving average is $97.83 and its 200 day simple moving average is $94.25.

Ingersoll Rand Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio is currently 3.90%.

Insider Activity

In other news, insider Kathleen M. Keene sold 4,629 shares of Ingersoll Rand stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $89.99, for a total value of $416,563.71. Following the completion of the sale, the insider now directly owns 3,829 shares of the company’s stock, valued at approximately $344,571.71. This trade represents a 54.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael J. Scheske sold 2,531 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,660 shares of company stock worth $1,348,834. Insiders own 0.68% of the company’s stock.

Institutional Trading of Ingersoll Rand

A number of institutional investors have recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of Ingersoll Rand in the 2nd quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new position in shares of Ingersoll Rand during the 3rd quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its position in shares of Ingersoll Rand by 38.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the industrial products company’s stock worth $42,000 after buying an additional 126 shares during the period. UMB Bank n.a. lifted its position in shares of Ingersoll Rand by 196.8% during the 2nd quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 309 shares during the period. Finally, Eastern Bank bought a new position in Ingersoll Rand during the third quarter worth $42,000. Institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IR. Evercore ISI reduced their target price on shares of 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. Cfra increased their target price on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Stifel Nicolaus cut Ingersoll Rand from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $112.00 to $107.00 in a research report on Monday. Morgan Stanley initiated coverage on Ingersoll Rand in a research report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Finally, Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a research note on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.83.

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.