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 $3,131,100 were sold by Schiesl Andrew R on Mar 11 ’24. At $89.46 per share, Schiesl Andrew R sold 35,000 shares. The insider’s holdings dropped to 16,525 shares worth approximately $1.57 million following the completion of this transaction.
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Also, Reynal Vicente sold 240,000 shares, netting a total of over 21,638,640 in proceeds. Following the sale of shares at $90.16 each, the insider now holds 91,957 shares.
Before that, Reynal Vicente had sold 80,000 shares from its account. In a trade valued at $7,209,600, the insider traded Ingersoll-Rand Inc shares for $90.12 each. Upon closing the transaction, the insider’s holdings decreased to 80,000 shares, worth approximately $7.85 million.
As published in their initiating research note from Exane BNP Paribas on March 12, 2024, Ingersoll-Rand Inc [IR] has been a Neutral and the price target has been revised to $92. Analysts at Evercore ISI downgraded the stock from ‘”an Outperform”‘ to ‘”an In-line”‘ outlook in a report released in mid February. As of October 24, 2023, Stifel has increased its “Hold” rating to a “Buy” for IR. Earlier on May 09, 2023, Evercore ISI upgraded its rating. Their new recommendation was “an Outperform” for IR stock which previously was a “an In-line”.
Analyzing IR Stock Performance
During the last five days, there has been a surge of approximately 4.49%. Over the course of the year, Ingersoll-Rand Inc shares have jumped approximately 22.96%. Shares of the company reached a 52-week high of $95.29 on 03/21/24 and a 52-week low of $74.01 on 01/08/24. A 50-day SMA is recorded $85.82, while a 200-day SMA reached $71.94. Nevertheless, trading volume fell to 2.45 million shares from 2.65 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 94.19, which, if violated, would cause prices to drop to 93.28. In the upper region, resistance lies at 95.65. The next price resistance is at 96.19. RSI (Relative Strength Index) is 73.08 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.22, which suggests the price will increase in the coming days. Percent R is at 2.81%, 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 steep in short interest on Feb 29, 2024 dropping by -0.56 million shares to 4.86 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 5.42 million shares. A decline of -11.52% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.62 of the overall float, the days-to-cover ratio (short ratio) decline to 1.62.
