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 $1,016,595 were sold by Minarro Viseras Enrique on Aug 16. At $53.51 per share, Minarro Viseras Enrique sold 19,000 shares. The insider’s holdings dropped to 7,650 shares worth approximately $0.39 million following the completion of this transaction.
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Also, Kendall-Jones Nicholas J sold 3,650 shares, netting a total of over 194,946 in proceeds. Following the sale of shares at $53.41 each, the insider now holds 2,118 shares.
Before that, Abbaszadeh Sia had sold 50,000 shares from its account. In a trade valued at $2,284,340, the insider traded Ingersoll Rand Inc. shares for $45.69 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $1.24 million.
As published in a research note from Deutsche Bank on August 05, 2022, Ingersoll Rand Inc. [IR] has been rated down from a Buy to a Hold and the price target has been revised to $52 from $50. This represents a 1.21% premium over Thursday’s closing price. Analysts at Wolfe Research downgraded the stock from ‘”an Outperform”‘ to ‘”a Peer perform”‘ outlook in a report released in early April. As of November 19, 2021, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for IR. Earlier on October 08, 2021, Wells Fargo initiated its rating. Their recommendation was “an Equal weight” for IR stock.
Analyzing IR Stock Performance
On Thursday, Ingersoll Rand Inc. [NYSE: IR] rose 4.73% to $51.37. The stock’s lowest price that day was $47.63, but it reached a high of $52.23 in the same session. During the last five days, there has been a surge of approximately 5.63%. Over the course of the year, Ingersoll Rand Inc. shares have dropped approximately -16.97%. 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 $47.32, while a 200-day SMA reached $47.90. Nevertheless, trading volume fell to 4.47 million shares from 3.04 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 48.59, which, if violated, would cause prices to drop to 45.81. In the upper region, resistance lies at 53.19. The next price resistance is at 55.01. RSI (Relative Strength Index) is 63.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.84, which suggests the price will increase in the coming days. Percent R is at 12.13%, indicating bullish price movement. Stochastics %K at holding 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 Investment Manageme filings, the company currently owns 62,229,555 shares, which is about 15.44% of the total IR shares outstanding. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $1,862,670,175. T. Rowe Price Associates, Inc. reduced a -71.25% interest valued at $934.95 million while Artisan Partners LP sold a -1,640,358 stake. A total of 427,271 shares of Ingersoll Rand Inc. were sold by BlackRock Fund Advisors during the quarter, and 617,485 were bought by Massachusetts Financial Services. In its current portfolio, SSgA Funds Management, Inc. holds 15,248,766 shares valued at $659.66 million.
In terms of Ingersoll Rand Inc. share price expectations, FactSet research, analysts set an average price target of $55.00 in the next 12 months, up nearly 10.09% from the previous closing price of $49.05. Analysts anticipate Ingersoll Rand Inc. stock to reach $75.00 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 10, 2021, Morgan Stanley assigned a price target of “an Overweight” to the stock and resumed coverage with a $60.