State of New Jersey Common Pension Fund D decreased its position in shares of Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,000 shares of the industrial products company’s stock after selling 10,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ingersoll-Rand PLC (Ireland) were worth $8,225,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IR. BlackRock Inc. boosted its stake in Ingersoll-Rand PLC (Ireland) by 1,560.6% in the first quarter. BlackRock Inc. now owns 17,554,733 shares of the industrial products company’s stock worth $1,427,553,000 after buying an additional 16,497,616 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Ingersoll-Rand PLC (Ireland) by 55.7% in the first quarter. JPMorgan Chase & Co. now owns 4,223,442 shares of the industrial products company’s stock worth $343,449,000 after buying an additional 1,511,211 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Ingersoll-Rand PLC (Ireland) during the first quarter worth approximately $33,005,000. Marshall Wace North America L.P. purchased a new stake in Ingersoll-Rand PLC (Ireland) during the first quarter worth approximately $33,005,000. Finally, TIAA CREF Investment Management LLC boosted its stake in Ingersoll-Rand PLC (Ireland) by 15.6% in the first quarter. TIAA CREF Investment Management LLC now owns 2,830,711 shares of the industrial products company’s stock worth $230,193,000 after buying an additional 383,018 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Ingersoll-Rand PLC (IR) opened at 84.98 on Friday. Ingersoll-Rand PLC has a 12-month low of $62.40 and a 12-month high of $94.39. The stock has a market cap of $21.56 billion, a PE ratio of 21.10 and a beta of 1.31. The firm has a 50 day moving average of $90.37 and a 200-day moving average of $85.57.

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

The business also recently announced 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 is a boost from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.12%. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio is presently 39.80%.

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A number of equities research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Credit Suisse Group reissued a “buy” rating and set a $105.00 target price on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, July 11th. Zacks Investment Research cut shares of Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BMO Capital Markets reissued a “buy” rating and set a $100.00 target price on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, May 2nd. Finally, Royal Bank Of Canada increased their target price on shares of Ingersoll-Rand PLC (Ireland) from $83.00 to $85.00 and gave the company a “sector perform” rating in a research report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $97.43.

In other news, insider Paul A. Camuti sold 3,500 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $89.64, for a total value of $313,740.00. Following the completion of the transaction, the insider now owns 61,519 shares in the company, valued at approximately $5,514,563.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard J. Swift sold 2,500 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $88.03, for a total transaction of $220,075.00. Following the completion of the transaction, the director now owns 65,932 shares of the company’s stock, valued at approximately $5,803,993.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,443 shares of company stock valued at $1,292,381. Company insiders own 0.65% of the company’s stock.

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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