In a recent trading move, Andrew Schiesl, Senior Vice President, General Counsel, Chief Compliance Officer, and Secretary of Ingersoll Rand Inc. (NYSE:IR), sold shares worth more than $2 million. The transaction, which took place on May 17, 2024, involved the sale of 22,369 shares of Ingersoll Rand's common stock at an average price of $92.175, totaling approximately $2,061,862.
In addition to the sale, documents show that Schiesl also acquired 36,690 shares through the exercise of options, with each share priced at $27.05, amounting to a total transaction value of $992,464. It's important to note that the shares sold were part of the amount necessary to cover the option exercise price and related withholding taxes, as indicated in the footnotes of the filing.
Following these transactions, Schiesl's direct ownership in Ingersoll Rand stands at 30,846 shares of common stock. The executive's financial moves come as part of the standard reporting of stock transactions by company insiders.
Investors often monitor insider trading activities to gain insights into a company's internal perspective and potential future performance. However, it's essential to consider that such transactions may not always be indicative of the company's operational health or stock market performance.
Ingersoll Rand, a company with a rich history in manufacturing industrial machinery and equipment, continues to be a significant player in its industry. Shareholders and potential investors keep a close eye on insider trading as part of their overall investment strategy.
InvestingPro Insights
In the context of the recent insider trading activity at Ingersoll Rand Inc. (NYSE:IR), the InvestingPro data and tips provide a broader perspective on the company's financial health and market position. With a market capitalization of $38.37 billion and a P/E ratio of 46.75, Ingersoll Rand trades at a premium, reflecting investors' high expectations for future earnings. The adjusted P/E ratio for the last twelve months as of Q1 2024 stands at 42.91, reinforcing the company's robust valuation in the market.
The company's revenue growth over the last twelve months as of Q1 2024 has been 11.41%, which is a solid figure that may interest investors looking for companies with a steady increase in sales. Additionally, Ingersoll Rand's gross profit margin during the same period is an impressive 42.86%, indicating the company's ability to maintain profitability despite costs.
An InvestingPro Tip highlights that Ingersoll Rand has a perfect Piotroski Score of 9, suggesting that the company is financially healthy and has strong profitability, liquidity, and operating efficiency. Another tip points out that the stock has experienced a high return over the last year, with a 59.52% price total return, which could be a signal of strong investor confidence and market performance.
For those interested in a deeper dive into Ingersoll Rand's financials and market performance, InvestingPro offers additional tips, including insights into earnings revisions, valuation multiples, and stock volatility. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription and access more than 10 additional InvestingPro Tips that can help refine your investment strategy.
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