Ingersoll Rand Inc. (NYSE:IR), a leader in the general industrial machinery and equipment industry, has reported a series of stock transactions by Senior Vice President Kathleen M. Keene. According to the latest filings, Keene engaged in both acquisition and disposition of company shares.
On August 27, 2024, Keene acquired 4,629 shares of Ingersoll Rand's common stock at a price of $25.96 per share, amounting to a total transaction value of $120,168. On the same day, she sold an equal number of shares at a weighted average price of approximately $89.993, realizing a total sale value of $416,627. The transactions continued the following day, with Keene selling another 45 shares at a price of $91.00, adding $4,095 to the total sales value.
The sales were conducted in multiple transactions at prices ranging from $89.93 to $90.085. As per the detailed footnote in the filing, Keene has committed to providing full information about the number of shares sold at each price within this range upon request.
Following these transactions, Keene's ownership in Ingersoll Rand stands at 3,784 shares of common stock. The executive's position within the company is noted as Senior Vice President, Human Resources, Talent, and Diversity, Equity, and Inclusion.
Investors often monitor insider trading activities as they can provide insights into executives' perspectives on their company's performance and future. Keene's recent transactions show significant trading activity and may be of interest to current and potential shareholders.
In other recent news, Ingersoll Rand, a player in the industrial machinery sector, has reported a record-setting second quarter for 2024 and raised its full-year guidance. This success is credited to solid results across segments and the acquisition of ILC Dover (NYSE:DOV), projected to contribute approximately $220 million in revenue for 2024. Despite a reduction in organic growth expectations in China and a lowered aerospace and defense revenue outlook by $30 million, the company's recent developments indicate a positive trajectory.
Ingersoll Rand has also launched a $2.6 billion commercial paper program, providing the company with additional financial flexibility. While the program allows the company to borrow, repay, and reborrow funds, no notes have been issued as of yet.
The company also recently adjusted its executive compensation to stay competitive, granting additional equity awards to CFO Vikram Kini and Senior Vice President Michael Weatherred. This decision, following a mid-year review of executive compensation by independent consultants, aims to ensure that Ingersoll Rand's executive compensation remains competitive in the market.
These recent developments reflect Ingersoll Rand's commitment to continued growth, financial flexibility, and competitive executive compensation.
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