Why Are People Buying IR Shares?

By Naomi Wentworth • Thursday, August 03 13:54 • Permanent Link

Ingersoll Rand shares rose 2.3% this afternoon to a price of $66.97. The stock is still trading within range of its average target price of $70.08. Analysts have given the large-cap stock target prices ranging from $61.0 to $78.0 dollars per share, with an average rating of buy.

Ingersoll Rand's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.5%. The stock's short ratio is 2.03. The company's insiders own 0.21% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Another number to watch is the company's rate of institutional share ownership, which now stands at 98.5%.

Institutions Invested in Ingersoll Rand

Date Reported	Holder	Percentage	Shares	Value
2023-03-31	T. Rowe Price Investment Management, Inc.	11%	46,385,990	$3,106,469,806
2023-03-31	Vanguard Group Inc	11%	45,887,093	$3,073,058,674
2023-03-31	Blackrock Inc.	8%	30,642,956	$2,052,158,800
2023-03-31	Price (T.Rowe) Associates Inc	7%	27,983,731	$1,874,070,499
2023-03-31	FMR, LLC	4%	16,935,257	$1,134,154,181
2023-03-31	Artisan Partners Limited Partnership	4%	15,252,911	$1,021,487,468
2023-03-31	State Street Corporation	4%	15,001,307	$1,004,637,548
2023-03-31	JP Morgan Chase & Company	3%	12,056,285	$807,409,421
2023-03-31	Janus Henderson Group PLC	3%	10,720,227	$717,933,615
2023-03-31	Massachusetts Financial Services Co.	2%	9,965,463	$667,387,069

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.