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

Ingersoll-Rand PLC (NYSE:IR) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,890,000 shares, an increase 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 short-interest ratio is currently 2.2 days. Approximately 1.2% of the shares of the stock are sold short.

Shares of NYSE IR traded up $0.93 during mid-day trading on Friday, hitting $146.55. 939,881 shares of the stock traded hands, compared to its average volume of 1,549,968. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 0.93. Ingersoll-Rand has a twelve month low of $102.69 and a twelve month high of $146.60. The company has a market cap of $34.63 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 2.11 and a beta of 1.26. The firm has a 50 day simple moving average of $134.61 and a two-hundred day simple moving average of $126.70.

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

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

A number of research firms have commented on IR. Wolfe Research lowered Ingersoll-Rand from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 9th. ValuEngine lowered Ingersoll-Rand from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. BMO Capital Markets set a $145.00 price target on Ingersoll-Rand and gave the company a “buy” rating in a research note on Monday, November 4th. Credit Suisse Group lifted their price target on Ingersoll-Rand from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Co upgraded Ingersoll-Rand from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. Ingersoll-Rand has an average rating of “Buy” and a consensus price target of $139.06.

In other Ingersoll-Rand news, SVP Keith A. Sultana sold 3,743 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $143.07, for a total transaction of $535,511.01. Following the transaction, the senior vice president now owns 11,995 shares in the company, valued at approximately $1,716,124.65. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Paul A. Camuti sold 10,710 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $132.19, for a total value of $1,415,754.90. Following the transaction, the senior vice president now owns 70,804 shares in the company, valued at approximately $9,359,580.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,332 shares of company stock worth $38,000,966. Corporate insiders own 0.58% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Ingersoll-Rand by 6.8% during the 3rd quarter. State Street Corp now owns 10,867,714 shares of the industrial products company’s stock valued at $1,339,015,000 after acquiring an additional 688,390 shares in the last quarter. FMR LLC boosted its holdings in shares of Ingersoll-Rand by 5.2% during the 4th quarter. FMR LLC now owns 6,474,165 shares of the industrial products company’s stock valued at $860,546,000 after acquiring an additional 320,509 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Ingersoll-Rand by 5.7% during the 4th 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 acquiring an additional 226,246 shares in the last quarter. Investec Asset Management LTD acquired a new stake in shares of Ingersoll-Rand during the 4th quarter valued at $296,056,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Ingersoll-Rand by 0.9% during the 4th 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 acquiring an additional 10,836 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

About Ingersoll-Rand

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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