Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Ingersoll Rand Inc. shares valued at $2,284,340 were sold by Abbaszadeh Sia on Mar 07. At $45.69 per share, Abbaszadeh Sia sold 50,000 shares. The insider’s holdings dropped to 24,183 shares worth approximately $1.2 million following the completion of this transaction.
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Also, Kendall-Jones Nicholas J sold 6,000 shares, netting a total of over 305,287 in proceeds. Following the sale of shares at $50.88 each, the insider now holds 6,729 shares.
Before that, Schiesl Andrew R had sold 33,105 shares from its account. In a trade valued at $1,658,203, the insider traded Ingersoll Rand Inc. shares for $50.09 each. Upon closing the transaction, the insider’s holdings decreased to 33,105 shares, worth approximately $3.85 million.
As published in a research note from Wolfe Research on April 06, 2022, Ingersoll Rand Inc. [IR] has been rated down from an Outperform to a Peer perform. Analysts at Wells Fargo upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid November. As of October 08, 2021, Wells Fargo has initiated its “an Equal weight” rating for IR.
Analyzing IR’s Price Performance
On Thursday, Ingersoll Rand Inc. [NYSE: IR] plunged -0.22% to $49.78. The stock’s lowest price that day was $48.01, but it reached a high of $49.96 in the same session. During the last five days, there has been a surge of approximately 3.36%. Over the course of the year, Ingersoll Rand Inc. shares have dropped approximately -19.54%. Shares of the company reached a 52-week high of $62.64 on 01/03/22 and a 52-week low of $39.28 on 07/14/22. A 50-day SMA is recorded $44.87, while a 200-day SMA reached $51.19. Nevertheless, trading volume fell to 4.84 million shares from 3.06 million shares the previous day.
Support And Resistance Levels for Ingersoll Rand Inc. (IR)
According to the 24-hour chart, there is a support level at 48.54, which, if violated, would cause prices to drop to 47.30. In the upper region, resistance lies at 50.49. The next price resistance is at 51.20. RSI (Relative Strength Index) is 68.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.07, which suggests the price will increase in the coming days. Percent R is at 1.99%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Ingersoll Rand Inc. subject to short interest?
Stocks of Ingersoll Rand Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.47 million shares to 8.89 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.42 million shares. A jump of 5.29% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.17 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.17.
Which companies own the most shares of Ingersoll Rand Inc. (IR)?
According to T. Rowe Price Associates, Inc. filings, the company currently owns 68,805,619 shares, which is about 16.95% of the total IR shares outstanding. The investor’s shares have appreciated by 11,040,337 from its previous 13-F filing of 57765282.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $1,787,033,073. Artisan Partners LP reduced a -0.81% interest valued at $952.31 million while BlackRock Fund Advisors sold a -224,765 stake. A total of -90,577 shares of Ingersoll Rand Inc. were sold by SSgA Funds Management, Inc. during the quarter, and -2,357,010 were sold by JPMorgan Investment Management, I. In its current portfolio, Wellington Management Co. LLP holds 15,038,711 shares valued at $632.83 million.
In terms of Ingersoll Rand Inc. share price expectations, FactSet research, analysts set an average price target of $52.87 in the next 12 months, up nearly 4.23% from the previous closing price of $49.89. Analysts anticipate Ingersoll Rand Inc. stock to reach $78.00 by 2022, with the lowest price target being $44.00. In spite of this, 17 analysts ranked Ingersoll Rand Inc. stock as an Overweight at the end of 2022. On September 03, 2021, Citigroup assigned a price target of “a Buy” to the stock and resumed coverage with a $62.