CI Investments Inc. Takes $41.26 Million Position in Ingersoll-Rand PLC (Ireland) (IR)

CI Investments Inc. purchased a new position in Ingersoll-Rand PLC (Ireland) (NYSE:IR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 462,700 shares of the industrial products company’s stock, valued at approximately $41,259,000. CI Investments Inc. owned about 0.19% of Ingersoll-Rand PLC (Ireland) at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Advisory Services Network LLC lifted its stake in shares of Ingersoll-Rand PLC (Ireland) by 19.5% in the 2nd quarter. Advisory Services Network LLC now owns 1,304 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 213 shares in the last quarter. Acrospire Investment Management LLC lifted its stake in shares of Ingersoll-Rand PLC (Ireland) by 250.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $128,000 after purchasing an additional 1,000 shares in the last quarter. Harfst & Associates Inc. lifted its stake in shares of Ingersoll-Rand PLC (Ireland) by 43.9% in the 2nd quarter. Harfst & Associates Inc. now owns 1,580 shares of the industrial products company’s stock valued at $144,000 after purchasing an additional 482 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Ingersoll-Rand PLC (Ireland) by 185.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,967 shares of the industrial products company’s stock valued at $175,000 after buying an additional 1,278 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Ingersoll-Rand PLC (Ireland) by 5.0% during the 2nd quarter. Parallel Advisors LLC now owns 2,103 shares of the industrial products company’s stock valued at $185,000 after buying an additional 100 shares during the period. 82.52% of the stock is currently owned by hedge funds and other institutional investors.

In other Ingersoll-Rand PLC (Ireland) news, SVP Paul A. Camuti sold 14,097 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $95.00, for a total transaction of $1,339,215.00. Following the completion of the transaction, the senior vice president now owns 66,439 shares in the company, valued at approximately $6,311,705. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marcia J. Avedon sold 10,460 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $94.00, for a total value of $983,240.00. Following the transaction, the insider now owns 111,637 shares of the company’s stock, valued at approximately $10,493,878. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

Several equities research analysts recently commented on the company. UBS AG set a $97.00 target price on Ingersoll-Rand PLC (Ireland) and gave the company a “buy” rating in a report on Thursday, July 27th. ValuEngine downgraded Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $93.00 target price (up from $90.00) on shares of Ingersoll-Rand PLC (Ireland) in a report on Thursday, July 27th. BidaskClub downgraded Ingersoll-Rand PLC (Ireland) from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, Zacks Investment Research upgraded Ingersoll-Rand PLC (Ireland) from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $99.18.

Ingersoll-Rand PLC (NYSE:IR) traded down $0.20 during trading hours on Tuesday, reaching $84.76. The company had a trading volume of 1,681,400 shares, compared to its average volume of 1,728,957. Ingersoll-Rand PLC has a twelve month low of $74.02 and a twelve month high of $96.23. The firm has a market cap of $21,228.78, a price-to-earnings ratio of 19.58, a P/E/G ratio of 2.05 and a beta of 1.37. The company has a quick ratio of 0.89, a current ratio of 1.24 and a debt-to-equity ratio of 0.43.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.01. Ingersoll-Rand PLC (Ireland) had a return on equity of 16.65% and a net margin of 7.47%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. sell-side analysts forecast that Ingersoll-Rand PLC will post 4.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.12%. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio is currently 44.89%.

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About Ingersoll-Rand PLC (Ireland)

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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