Ingersoll-Rand Inc’s recent filing unveils 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 $1.57 million.
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 $7.83 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 Friday, Ingersoll-Rand Inc [NYSE:IR] saw its stock jump 2.72% to $94.81. Over the last five days, the stock has lost -0.15%. Ingersoll-Rand Inc shares have risen nearly 22.59% since the year began. Nevertheless, the stocks have risen 71.57% over the past one year. While a 52-week high of $96.17 was reached on 03/25/24, a 52-week low of $53.24 was recorded on 01/08/24. SMA at 50 days reached $89.01, while 200 days put it at $73.48. A total of 2.13 million shares were traded, compared to the trading of 2.87 million shares in the previous session.
Levels Of Support And Resistance For IR Stock
The 24-hour chart illustrates a support level at 93.33, which if violated will result in even more drops to 91.86. On the upside, there is a resistance level at 95.67. A further resistance level may holdings at 96.53. The Relative Strength Index (RSI) on the 14-day chart is 61.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 23.82%. Stochastics %K at 55.54% indicates the stock is a holding.
How much short interest is there in Ingersoll-Rand Inc?
A steep rise in short interest was recorded in Ingersoll-Rand Inc stocks on Mar 15, 2024, growing by 0.35 million shares to a total of 5.02 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.67 million shares. There was a rise of 6.97%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.64% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.87.
