Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ingersoll-Rand Inc shares valued at $17,488,350 were sold by Reynal Vicente on Jun 04 ’24. At $88.11 per share, Reynal Vicente sold 198,486 shares. The insider’s holdings dropped to 100,367 shares worth approximately $9.49 million following the completion of this transaction.
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Also, Reynal Vicente sold 258,488 shares, netting a total of over 23,272,604 in proceeds. Following the sale of shares at $90.03 each, the insider now holds 100,367 shares.
Before that, Schiesl Andrew R had sold 22,369 shares from its account. In a trade valued at $2,061,863, the insider traded Ingersoll-Rand Inc shares for $92.17 each. Upon closing the transaction, the insider’s holdings decreased to 22,369 shares, worth approximately $2.92 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 3.50%. Over the course of the year, Ingersoll-Rand Inc shares have jumped approximately 22.29%. Shares of the company reached a 52-week high of $96.67 on 05/23/24 and a 52-week low of $74.01 on 01/08/24. A 50-day SMA is recorded $91.80, while a 200-day SMA reached $80.01. Nevertheless, trading volume fell to 2.31 million shares from 1.91 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 93.47, which, if violated, would cause prices to drop to 92.36. In the upper region, resistance lies at 95.24. The next price resistance is at 95.90. RSI (Relative Strength Index) is 56.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.59, which suggests the price will increase in the coming days. Percent R is at 8.62%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
