Ingersoll-Rand Inc’s filing revealed that its insider Schiesl Andrew R unloaded Company’s shares for reported $3.13 million on Mar 11 ’24. In the deal valued at $89.46 per share,35,000 shares were sold. As a result of this transaction, Schiesl Andrew R now holds 16,525 shares worth roughly $1.56 million.
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Then, Reynal Vicente sold 240,000 shares, generating $21,638,640 in total proceeds. Upon selling the shares at $90.16, the insider now owns 91,957 shares.
Before that, Reynal Vicente sold 80,000 shares. Ingersoll-Rand Inc shares valued at $7,209,600 were divested by the insider at a price of $90.12 per share. As a result of the transaction, Reynal Vicente now holds 82,573 shares, worth roughly $7.8 million.
Exane BNP Paribas initiated its Ingersoll-Rand Inc [IR] rating to a Neutral in a research note published on March 12, 2024; the price target was $92. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who decreased its forecast for the stock in mid February from “an Outperform” to “an In-line”. Stifel also remained covering IR and has increased its forecast on October 24, 2023 with a “Buy” recommendation from previously “Hold” rating. Evercore ISI revised its rating on May 09, 2023. It rated IR as “an Outperform” which previously was an “an In-line”.
Price Performance Review of IR
On Monday, Ingersoll-Rand Inc [NYSE:IR] saw its stock fall -0.27% to $94.48. Over the last five days, the stock has gained 3.59%. Ingersoll-Rand Inc shares have risen nearly 22.16% since the year began. Nevertheless, the stocks have risen 71.94% over the past one year. While a 52-week high of $95.29 was reached on 03/25/24, a 52-week low of $53.24 was recorded on 01/08/24. SMA at 50 days reached $86.52, while 200 days put it at $72.27. A total of 2.4 million shares were traded, compared to the trading of 1.57 million shares in the previous session.
Levels Of Support And Resistance For IR Stock
The 24-hour chart illustrates a support level at 93.84, which if violated will result in even more drops to 93.19. On the upside, there is a resistance level at 95.65. A further resistance level may holdings at 96.81. The Relative Strength Index (RSI) on the 14-day chart is 69.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.99, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 22.65%. Stochastics %K at 88.75% indicates the stock is a selling.
How much short interest is there in Ingersoll-Rand Inc?
A steep rise in short interest was recorded in Ingersoll-Rand Inc stocks on Feb 29, 2024, dropping by -0.56 million shares to a total of 4.86 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 5.42 million shares. There was a decline of -11.52%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.59% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.62.
