Schwab Charles Investment Management Inc. boosted its stake in Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 1,242,604 shares of the industrial products company’s stock after buying an additional 26,958 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Ingersoll-Rand PLC (Ireland) were worth $113,562,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Israel Discount Bank of New York purchased a new position in Ingersoll-Rand PLC (Ireland) during the first quarter valued at $126,000. Tradewinds Capital Management LLC increased its position in shares of Ingersoll-Rand PLC (Ireland) by 9.0% in the first quarter. Tradewinds Capital Management LLC now owns 1,690 shares of the industrial products company’s stock worth $137,000 after buying an additional 140 shares during the last quarter. Zions Bancorporation increased its position in shares of Ingersoll-Rand PLC (Ireland) by 1.1% in the first quarter. Zions Bancorporation now owns 2,001 shares of the industrial products company’s stock worth $163,000 after buying an additional 22 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Ingersoll-Rand PLC (Ireland) by 9.6% in the first quarter. Parallel Advisors LLC now owns 2,003 shares of the industrial products company’s stock worth $178,000 after buying an additional 176 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. increased its position in shares of Ingersoll-Rand PLC (Ireland) by 6.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,106 shares of the industrial products company’s stock worth $192,000 after buying an additional 131 shares during the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of Ingersoll-Rand PLC (NYSE IR) opened at 85.91 on Tuesday. The firm has a market capitalization of $21.79 billion, a PE ratio of 21.33 and a beta of 1.31. Ingersoll-Rand PLC has a 52 week low of $62.40 and a 52 week high of $94.39. The stock has a 50 day moving average of $90.06 and a 200-day moving average of $85.74.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.03. The company had revenue of $3.91 billion during the quarter, compared to analysts’ expectations 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 last year, the business earned $1.38 EPS. Equities analysts anticipate 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 will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This is a boost from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.10%. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio (DPR) is currently 39.80%.

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IR has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $93.00 price objective (up from $90.00) on shares of Ingersoll-Rand PLC (Ireland) in a research report on Thursday, July 27th. Wolfe Research initiated coverage on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. UBS AG set a $97.00 price objective on shares of Ingersoll-Rand PLC (Ireland) and gave the company a “buy” rating in a research report on Thursday, July 27th. BidaskClub downgraded shares of Ingersoll-Rand PLC (Ireland) from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research downgraded shares of Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $97.43.

In related news, EVP Robert Zafari sold 1,483 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $89.59, for a total value of $132,861.97. Following the completion of the transaction, the executive vice president now directly owns 66,944 shares of the company’s stock, valued at $5,997,512.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul A. Camuti sold 6,960 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $89.90, for a total transaction of $625,704.00. Following the completion of the transaction, the insider now directly owns 64,979 shares of the company’s stock, valued at $5,841,612.10. The disclosure for this sale can be found here. Insiders sold 14,443 shares of company stock valued at $1,292,381 over the last three months. 0.65% of the stock is owned by company insiders.

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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