Private Advisor Group LLC Raises Position in Ingersoll-Rand PLC (Ireland) (IR)

Private Advisor Group LLC boosted its stake in Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 40.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,942 shares of the industrial products company’s stock after purchasing an additional 3,410 shares during the period. Private Advisor Group LLC’s holdings in Ingersoll-Rand PLC (Ireland) were worth $1,119,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IR. BlackRock Inc. lifted its stake in Ingersoll-Rand PLC (Ireland) by 1,560.6% in the 1st quarter. BlackRock Inc. now owns 17,554,733 shares of the industrial products company’s stock valued at $1,427,553,000 after purchasing an additional 16,497,616 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Ingersoll-Rand PLC (Ireland) by 182.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,926,345 shares of the industrial products company’s stock valued at $1,089,950,000 after purchasing an additional 7,702,903 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in Ingersoll-Rand PLC (Ireland) in the 1st quarter valued at approximately $33,005,000. Marshall Wace North America L.P. bought a new position in Ingersoll-Rand PLC (Ireland) in the 1st quarter valued at approximately $33,005,000. Finally, TIAA CREF Investment Management LLC lifted its stake in Ingersoll-Rand PLC (Ireland) by 15.6% in the 1st quarter. TIAA CREF Investment Management LLC now owns 2,830,711 shares of the industrial products company’s stock valued at $230,193,000 after purchasing an additional 383,018 shares during the last quarter. 80.58% of the stock is owned by institutional investors and hedge funds.

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In other news, EVP Didier P. Teirlinck sold 26,174 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $86.10, for a total value of $2,253,581.40. Following the completion of the sale, the executive vice president now directly owns 131,129 shares in the company, valued at approximately $11,290,206.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard J. Swift sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $88.03, for a total transaction of $220,075.00. Following the completion of the sale, the director now owns 65,932 shares of the company’s stock, valued at $5,803,993.96. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

IR has been the subject of several research reports. Zacks Investment Research raised shares of Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research note on Friday, June 16th. Robert W. Baird set a $98.00 price objective on shares of Ingersoll-Rand PLC (Ireland) and gave the company a “hold” rating in a research note on Thursday, August 24th. Credit Suisse Group reissued a “buy” rating and issued a $105.00 price objective on shares of Ingersoll-Rand PLC (Ireland) in a research note on Tuesday, July 11th. BidaskClub downgraded shares of Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Wolfe Research initiated coverage on shares of Ingersoll-Rand PLC (Ireland) in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $97.25.

Ingersoll-Rand PLC (NYSE IR) opened at 87.46 on Monday. The firm has a market capitalization of $22.19 billion, a PE ratio of 21.71 and a beta of 1.30. The firm has a 50-day moving average of $86.43 and a 200 day moving average of $86.30. Ingersoll-Rand PLC has a 12 month low of $62.40 and a 12 month high of $94.39.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.03. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.78 billion. Ingersoll-Rand PLC (Ireland) had a net margin of 7.60% and a return on equity of 16.64%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 EPS. Equities research analysts forecast that Ingersoll-Rand PLC will post $4.54 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.06%. This is a positive change from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, September 7th. Ingersoll-Rand PLC (Ireland)’s payout ratio is presently 44.78%.

Ingersoll-Rand PLC (Ireland) Company Profile

Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.

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Institutional Ownership by Quarter for Ingersoll-Rand PLC (Ireland) (NYSE:IR)

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