Teacher Retirement System of Texas cut its position in Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 52.8% during the second quarter, Holdings Channel reports. The fund owned 92,795 shares of the industrial products company’s stock after selling 103,633 shares during the period. Teacher Retirement System of Texas’ holdings in Ingersoll-Rand PLC (Ireland) were worth $8,481,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IR. DekaBank Deutsche Girozentrale increased its stake in Ingersoll-Rand PLC (Ireland) by 8.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 198,537 shares of the industrial products company’s stock worth $18,043,000 after buying an additional 15,067 shares during the last quarter. First Trust Advisors LP increased its stake in Ingersoll-Rand PLC (Ireland) by 7.6% in the second quarter. First Trust Advisors LP now owns 336,788 shares of the industrial products company’s stock worth $30,779,000 after buying an additional 23,864 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Ingersoll-Rand PLC (Ireland) by 2.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,242,604 shares of the industrial products company’s stock worth $113,562,000 after buying an additional 26,958 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Ingersoll-Rand PLC (Ireland) by 29.2% in the second quarter. Canada Pension Plan Investment Board now owns 258,700 shares of the industrial products company’s stock worth $23,643,000 after buying an additional 58,500 shares during the last quarter. Finally, Cigna Investments Inc. New increased its stake in Ingersoll-Rand PLC (Ireland) by 41.2% in the second quarter. Cigna Investments Inc. New now owns 10,093 shares of the industrial products company’s stock worth $923,000 after buying an additional 2,943 shares during the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 85.91 on Tuesday. The firm has a market cap of $21.79 billion, a price-to-earnings ratio of 21.33 and a beta of 1.31. Ingersoll-Rand PLC has a 12-month low of $62.40 and a 12-month high of $94.39. The stock’s 50 day moving average is $90.06 and its 200-day moving average is $85.74.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last released its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the firm earned $1.38 EPS. Ingersoll-Rand PLC (Ireland)’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts anticipate that Ingersoll-Rand PLC will post $4.54 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.45 per share. This is a positive change from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, September 7th. This represents a $1.80 annualized dividend and a yield of 2.10%. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio (DPR) is presently 39.80%.

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A number of research firms recently commented on IR. BidaskClub downgraded shares of Ingersoll-Rand PLC (Ireland) from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded shares of Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $93.00 target price (up from $90.00) on shares of Ingersoll-Rand PLC (Ireland) in a report on Thursday, July 27th. UBS AG set a $97.00 target price on shares of Ingersoll-Rand PLC (Ireland) and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Wolfe Research began coverage on shares of Ingersoll-Rand PLC (Ireland) in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $97.43.

In related news, insider Paul A. Camuti sold 3,500 shares of Ingersoll-Rand PLC (Ireland) stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $89.64, for a total transaction of $313,740.00. Following the transaction, the insider now owns 61,519 shares of the company’s stock, valued at approximately $5,514,563.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard J. Swift sold 2,500 shares of Ingersoll-Rand PLC (Ireland) stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $88.03, for a total transaction of $220,075.00. Following the transaction, the director now directly owns 65,932 shares in the company, valued at approximately $5,803,993.96. The disclosure for this sale can be found here. Insiders have sold a total of 14,443 shares of company stock worth $1,292,381 in the last three months. 0.65% of the stock is owned by insiders.

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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