OppenheimerFunds Inc. increased its position in shares of Ingersoll-Rand PLC (NYSE:IR) by 16.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,466 shares of the industrial products company’s stock after buying an additional 2,478 shares during the period. OppenheimerFunds Inc.’s holdings in Ingersoll-Rand were worth $1,567,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its holdings in Ingersoll-Rand by 16.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,869,560 shares of the industrial products company’s stock valued at $616,406,000 after purchasing an additional 954,768 shares in the last quarter. American Century Companies Inc. lifted its holdings in Ingersoll-Rand by 20.8% during the second quarter. American Century Companies Inc. now owns 2,824,836 shares of the industrial products company’s stock valued at $253,473,000 after purchasing an additional 485,451 shares in the last quarter. Cambiar Investors LLC purchased a new position in Ingersoll-Rand during the second quarter valued at $34,866,000. PGGM Investments lifted its holdings in Ingersoll-Rand by 112.6% during the second quarter. PGGM Investments now owns 679,600 shares of the industrial products company’s stock valued at $60,981,000 after purchasing an additional 360,000 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Ingersoll-Rand by 300.4% during the second quarter. First Trust Advisors LP now owns 425,587 shares of the industrial products company’s stock valued at $38,188,000 after purchasing an additional 319,301 shares in the last quarter. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP David S. Regnery sold 12,098 shares of the firm’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $97.00, for a total transaction of $1,173,506.00. Following the completion of the sale, the executive vice president now directly owns 55,810 shares in the company, valued at $5,413,570. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marcia J. Avedon sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $96.00, for a total transaction of $960,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,969 shares of company stock valued at $3,646,048. 0.70% of the stock is owned by company insiders.

Several research firms have recently weighed in on IR. Zacks Investment Research downgraded shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. UBS Group raised their price target on shares of Ingersoll-Rand from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Cowen reissued a “buy” rating and issued a $115.00 price target on shares of Ingersoll-Rand in a research note on Monday, September 10th. Morgan Stanley began coverage on shares of Ingersoll-Rand in a research note on Monday, August 20th. They issued an “overweight” rating and a $111.00 price target on the stock. Finally, Bank of America raised their price target on shares of Ingersoll-Rand from $96.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, July 30th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $109.55.

NYSE:IR opened at $102.54 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $25.52 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 1.62 and a beta of 1.34. Ingersoll-Rand PLC has a twelve month low of $79.63 and a twelve month high of $104.55.

Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.13. The firm had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.21 billion. Ingersoll-Rand had a net margin of 9.28% and a return on equity of 18.11%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $1.49 earnings per share. research analysts anticipate that Ingersoll-Rand PLC will post 5.54 earnings per share for the current year.

About Ingersoll-Rand

Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.

Read More: Understanding Price to Earnings Ratio (PE)

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

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