Ingersoll Rand Inc. (NYSE:IR) Short Interest Down 5.9% in November

Ingersoll Rand Inc. (NYSE:IR) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 9,260,000 shares, a decrease of 5.9% from the November 15th total of 9,840,000 shares. Based on an average daily trading volume, of 2,180,000 shares, the days-to-cover ratio is currently 4.2 days. Approximately 2.3% of the shares of the stock are short sold.

Ingersoll Rand Stock Down 2.3 %

Ingersoll Rand stock opened at $97.55 on Wednesday. The firm has a 50 day moving average price of $101.07 and a two-hundred day moving average price of $95.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.36. Ingersoll Rand has a 52-week low of $74.01 and a 52-week high of $106.03. The firm has a market cap of $39.31 billion, a price-to-earnings ratio of 47.59, a PEG ratio of 3.86 and a beta of 1.42.

Ingersoll Rand Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were issued a $0.02 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Ingersoll Rand’s payout ratio is 3.90%.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total transaction of $246,620.64. Following the sale, the chief accounting officer now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.68% of the stock is owned by corporate insiders.

Institutional Trading of Ingersoll Rand

A number of large investors have recently bought and sold shares of IR. Ridgewood Investments LLC acquired a new stake in shares of Ingersoll Rand during the 2nd quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in Ingersoll Rand in the third quarter worth $34,000. Eastern Bank bought a new stake in Ingersoll Rand in the third quarter valued at $42,000. UMB Bank n.a. raised its holdings in shares of Ingersoll Rand by 196.8% during the second quarter. UMB Bank n.a. now owns 466 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 309 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of Ingersoll Rand during the 2nd quarter worth about $43,000. 95.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IR has been the topic of a number of research reports. Cfra boosted their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Morgan Stanley started coverage on Ingersoll Rand in a report on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price for the company. Robert W. Baird dropped their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Citigroup boosted their price target on Ingersoll Rand from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Barclays raised their price objective on shares of Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.67.

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.