Andrew Schiesl, Senior Vice President at Ingersoll Rand Inc. (NYSE:IR), recently sold a significant portion of company stock. According to a recent SEC filing, Schiesl sold 24,234 shares of common stock on November 5, 2024, at an average price of $95.083 per share, totaling approximately $2.3 million.
Prior to the sale, Schiesl exercised options to acquire the same number of shares at $27.79 per share. Following these transactions, he now holds 30,846 shares in the company.
"In other recent news, Ingersoll-Rand reported strong third-quarter results for 2024, with a 10% increase in total orders and a 7% rise in revenue year-over-year. Adjusted EBITDA rose by 15% to $533 million, and EPS grew by 9% to $0.84. However, the company adjusted its full-year 2024 revenue growth guidance to 5%-7%, slightly down from prior expectations due to project delays linked to customer readiness and other factors. In addition, Baird, a financial services firm, lowered its price target for Ingersoll-Rand to $109.00 from the previous $114.00, while maintaining an Outperform rating on the company's shares. This adjustment followed Ingersoll-Rand's recent quarterly results and updated guidance. Baird's analysis suggests that Ingersoll-Rand may experience subdued organic revenue trends in the first half of 2025, with expectations of a growth recovery in the second half. These are recent developments that investors might want to consider."
InvestingPro Insights
While Andrew Schiesl's recent stock sale might raise eyebrows, a closer look at Ingersoll Rand's financial metrics and market performance provides additional context for investors. According to InvestingPro data, Ingersoll Rand boasts a market capitalization of $41.74 billion, reflecting its substantial presence in the industrial machinery sector.
The company's stock has shown remarkable strength, with a 57.06% price total return over the past year and an impressive 33.95% return year-to-date. This robust performance aligns with an InvestingPro Tip indicating that Ingersoll Rand has experienced a "significant return over the last week," suggesting continued investor confidence.
However, potential investors should note that the stock is trading at a P/E ratio of 49.86, which an InvestingPro Tip characterizes as "trading at a high earnings multiple." This valuation metric might indicate that the stock is priced at a premium relative to its earnings, a factor worth considering in light of Schiesl's recent sale.
For those seeking a more comprehensive analysis, InvestingPro offers 16 additional tips on Ingersoll Rand, providing a deeper dive into the company's financial health and market position. These insights can be particularly valuable in interpreting executive trading activities within the broader context of the company's performance and outlook.
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