Picton Mahoney Asset Management lowered its position in Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 1.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,575 shares of the industrial products company’s stock after selling 1,675 shares during the period. Picton Mahoney Asset Management’s holdings in Ingersoll-Rand PLC (Ireland) were worth $10,563,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Israel Discount Bank of New York acquired a new position in shares of Ingersoll-Rand PLC (Ireland) in the first quarter worth about $126,000. Acrospire Investment Management LLC raised its position in shares of Ingersoll-Rand PLC (Ireland) by 250.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 1,000 shares during the last quarter. Harfst & Associates Inc. raised its position in shares of Ingersoll-Rand PLC (Ireland) by 43.9% during the 2nd quarter. Harfst & Associates Inc. now owns 1,580 shares of the industrial products company’s stock worth $144,000 after purchasing an additional 482 shares during the last quarter. Zions Bancorporation raised its position in shares of Ingersoll-Rand PLC (Ireland) by 1.1% during the 1st quarter. Zions Bancorporation now owns 2,001 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 22 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Ingersoll-Rand PLC (Ireland) by 9.6% during the 1st quarter. Parallel Advisors LLC now owns 2,003 shares of the industrial products company’s stock worth $178,000 after purchasing an additional 176 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “sell” rating in a research report on Tuesday. Morgan Stanley upped their price target on shares of Ingersoll-Rand PLC (Ireland) from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, September 25th. J P Morgan Chase & Co downgraded shares of Ingersoll-Rand PLC (Ireland) from an “overweight” rating to a “neutral” rating in a research report on Wednesday, September 20th. Stifel Nicolaus reduced their price target on shares of Ingersoll-Rand PLC (Ireland) from $103.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, September 13th. Finally, Jefferies Group LLC restated a “buy” rating and set a $105.00 price target on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $99.22.

Ingersoll-Rand PLC (IR) traded up 1.12% during mid-day trading on Friday, reaching $89.17. 1,764,433 shares of the company’s stock were exchanged. Ingersoll-Rand PLC has a 1-year low of $63.87 and a 1-year high of $94.39. The firm’s 50-day moving average is $86.58 and its 200 day moving average is $86.84. The stock has a market capitalization of $22.62 billion, a PE ratio of 22.14 and a beta of 1.30.

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

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were paid a $0.45 dividend. The ex-dividend date was Thursday, September 7th. This is a positive change from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.02%. Ingersoll-Rand PLC (Ireland)’s payout ratio is presently 44.78%.

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

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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.

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

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