Ingersoll Rand Inc. (NYSE:IR) Sees Significant Decrease in Short Interest

Ingersoll Rand Inc. (NYSE:IR) was the target of a significant decrease in short interest during the month of 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. Currently, 2.1% of the shares of the company are short sold. Based on an average daily volume of 2,090,000 shares, the days-to-cover ratio is presently 4.1 days.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Barclays cut their price target on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company lowered their price objective on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird cut their target price on Ingersoll Rand from $114.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, UBS Group assumed coverage on Ingersoll Rand in a research note on Wednesday, November 13th. They issued a “buy” rating and a $124.00 price target on the stock. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.92.

Institutional Trading of Ingersoll Rand

Several hedge funds and other institutional investors have recently bought and sold shares of IR. Ashton Thomas Securities LLC purchased a new stake in shares of Ingersoll Rand in the third quarter valued at $34,000. Murphy & Mullick Capital Management Corp purchased a new stake in Ingersoll Rand in the 4th quarter valued at about $36,000. Eastern Bank acquired a new position in shares of Ingersoll Rand during the 3rd quarter valued at about $42,000. OFI Invest Asset Management purchased a new position in shares of Ingersoll Rand during the 4th quarter worth about $38,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Ingersoll Rand in the fourth quarter worth approximately $42,000. 95.27% of the stock is owned by hedge funds and other institutional investors.

Ingersoll Rand Price Performance

Shares of IR stock traded down $6.76 during trading hours on Monday, hitting $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 current ratio of 2.36, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $92.75 and a 200-day moving average of $95.12. Ingersoll Rand has a twelve month low of $83.72 and a twelve month high of $106.03. The stock has a market cap of $34.58 billion, a price-to-earnings ratio of 41.85, a P/E/G ratio of 3.66 and a beta of 1.43.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $1.90 billion during 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%. As a group, equities research analysts anticipate that Ingersoll Rand will post 3.2 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 5th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is currently 3.90%.

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.