Short Interest in Ingersoll-Rand PLC (NYSE:IR) Increases By 7.8%

Ingersoll-Rand PLC (NYSE:IR) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 2,890,000 shares, a growth of 7.8% from the January 15th total of 2,680,000 shares. Based on an average trading volume of 1,320,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.2% of the company’s shares are short sold.

Several equities research analysts have issued reports on the company. Cfra increased their price target on Ingersoll-Rand from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Wolfe Research downgraded Ingersoll-Rand from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 9th. ValuEngine downgraded Ingersoll-Rand from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. Wells Fargo & Co upgraded Ingersoll-Rand from a “market perform” rating to an “outperform” rating in a report on Thursday, December 5th. Finally, Deutsche Bank downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $137.00 to $135.00 in a report on Tuesday, October 29th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Ingersoll-Rand currently has a consensus rating of “Buy” and an average target price of $139.06.

Shares of NYSE:IR traded up $0.93 during mid-day trading on Friday, reaching $146.55. 939,881 shares of the stock were exchanged, compared to its average volume of 1,549,968. The company has a quick ratio of 0.93, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company has a market cap of $34.63 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.11 and a beta of 1.26. Ingersoll-Rand has a one year low of $102.69 and a one year high of $146.60. The stock’s 50 day simple moving average is $134.61 and its 200-day simple moving average is $126.70.

Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.02). The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.16 billion. Ingersoll-Rand had a return on equity of 21.72% and a net margin of 8.50%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 earnings per share. Analysts anticipate that Ingersoll-Rand will post 6.87 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $2.12 annualized dividend and a yield of 1.45%. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 33.28%.

In other Ingersoll-Rand news, SVP Evan M. Turtz sold 3,887 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $135.00, for a total value of $524,745.00. Following the completion of the sale, the senior vice president now directly owns 15,681 shares in the company, valued at $2,116,935. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David S. Regnery sold 10,645 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $134.90, for a total value of $1,436,010.50. Following the completion of the sale, the executive vice president now owns 63,288 shares of the company’s stock, valued at $8,537,551.20. The disclosure for this sale can be found here. Insiders sold 281,332 shares of company stock valued at $38,000,966 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in Ingersoll-Rand by 6.8% during the third quarter. State Street Corp now owns 10,867,714 shares of the industrial products company’s stock valued at $1,339,015,000 after purchasing an additional 688,390 shares during the last quarter. FMR LLC boosted its position in Ingersoll-Rand by 5.2% during the fourth quarter. FMR LLC now owns 6,474,165 shares of the industrial products company’s stock valued at $860,546,000 after purchasing an additional 320,509 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Ingersoll-Rand by 5.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,161,687 shares of the industrial products company’s stock valued at $553,170,000 after purchasing an additional 226,246 shares during the last quarter. Investec Asset Management LTD acquired a new position in Ingersoll-Rand during the fourth quarter valued at approximately $296,056,000. Finally, PNC Financial Services Group Inc. boosted its position in Ingersoll-Rand by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,211,319 shares of the industrial products company’s stock valued at $161,007,000 after purchasing an additional 10,836 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Ingersoll-Rand Company Profile

Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.

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