The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ingersoll Rand Inc. shares valued at $1,500,000 were sold by Reynal Vicente on Mar 06. At $60.00 per share, Reynal Vicente sold 25,000 shares. The insider’s holdings dropped to 102,856 shares worth approximately $6.12 million following the completion of this transaction.
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Also, Reynal Vicente sold 75,000 shares, netting a total of over 4,300,450 in proceeds. Following the sale of shares at $57.34 each, the insider now holds 119,480 shares.
Before that, Schiesl Andrew R had sold 18,000 shares from its account. In a trade valued at $1,021,822, the insider traded Ingersoll Rand Inc. shares for $56.77 each. Upon closing the transaction, the insider’s holdings decreased to 18,000 shares, worth approximately $3.96 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 -14.35% premium over Wednesday’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 Wednesday, Ingersoll Rand Inc. [NYSE: IR] rose 0.15% to $59.46. The stock’s lowest price that day was $58.84, but it reached a high of $59.77 in the same session. During the last five days, there has been a surge of approximately 2.45%. Over the course of the year, Ingersoll Rand Inc. shares have jumped approximately 13.80%. Shares of the company reached a 52-week high of $60.39 on 03/07/23 and a 52-week low of $51.97 on 01/03/23. A 50-day SMA is recorded $56.30, while a 200-day SMA reached $50.26. Nevertheless, trading volume fell to 2.79 million shares from 2.56 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 58.94, which, if violated, would cause prices to drop to 58.43. In the upper region, resistance lies at 59.87. The next price resistance is at 60.29. RSI (Relative Strength Index) is 62.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.33, which suggests the price will increase in the coming days. Percent R is at 20.14%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Which companies own the most shares of Ingersoll Rand Inc. (IR)?
According to T. Rowe Price Investment Manageme filings, the company currently owns 50,820,205 shares, which is about 12.55% of the total IR shares outstanding. The investor’s shares have plunged by -12,700,052 from its previous 13-F filing of 63520257.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $2,449,119,904. T. Rowe Price Associates, Inc. acquire a 5.73% interest valued at $1.71 billion while BlackRock Fund Advisors purchased a 1,078,568 stake. A total of -5,488,296 shares of Ingersoll Rand Inc. were bought by Artisan Partners LP during the quarter, and -3,299 were sold by SSgA Funds Management, Inc. In its current portfolio, Janus Henderson Investors US LLC holds 10,655,486 shares valued at $596.71 million.
In terms of Ingersoll Rand Inc. share price expectations, FactSet research, analysts set an average price target of $63.77 in the next 12 months, up nearly 4.43% from the previous closing price of $59.37. Analysts anticipate Ingersoll Rand Inc. stock to reach $82.00 by 2023, with the lowest price target being $55.00. In spite of this, 16 analysts ranked Ingersoll Rand Inc. stock as an Overweight at the end of 2023. On September 10, 2021, Morgan Stanley assigned a price target of “an Overweight” to the stock and resumed coverage with a $60.