The Ingersoll-Rand PLC (Ireland) (IR) Shares Bought by IBM Retirement Fund

The Ingersoll-Rand PLC (Ireland) (IR) Shares Bought by IBM Retirement Fund

Several other hedge funds have also added to or reduced their stakes in IR. United Capital Financial Advisers LLC raised its position in Ingersoll-Rand PLC (Ireland) by 2.4% in the first quarter. United Capital Financial Advisers LLC now owns 8,756 shares of the industrial products company’s stock valued at $712,000 after buying an additional 207 shares during the period. Glen Harbor Capital Management LLC raised its position in Ingersoll-Rand PLC (Ireland) by 86.4% in the first quarter. Glen Harbor Capital Management LLC now owns 68,152 shares of the industrial products company’s stock valued at $5,542,000 after buying an additional 31,584 shares during the period. Vanguard Group Inc. raised its position in Ingersoll-Rand PLC (Ireland) by 1.8% in the first quarter. Vanguard Group Inc. now owns 16,481,935 shares of the industrial products company’s stock valued at $1,340,311,000 after buying an additional 288,826 shares during the period. Schwab Charles Investment Management Inc. raised its position in Ingersoll-Rand PLC (Ireland) by 18.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,215,646 shares of the industrial products company’s stock valued at $98,857,000 after buying an additional 187,142 shares during the period. Finally, Ledyard National Bank raised its position in Ingersoll-Rand PLC (Ireland) by 2.7% in the first quarter. Ledyard National Bank now owns 5,678 shares of the industrial products company’s stock valued at $462,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 82.66% of the company’s stock.

IBM Retirement Fund raised its stake in Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 117.8% during the second quarter, Holdings Channel reports. The firm owned 6,235 shares of the industrial products company’s stock after buying an additional 3,372 shares during the period. IBM Retirement Fund’s holdings in Ingersoll-Rand PLC (Ireland) were worth $637,000 as of its most recent filing with the SEC.

Ingersoll-Rand PLC (NYSE:IR) opened at 86.49 on Wednesday. The firm has a market capitalization of $21.94 billion, a P/E ratio of 21.47 and a beta of 1.31. The stock’s 50 day moving average price is $91.09 and its 200 day moving average price is $85.26. Ingersoll-Rand PLC has a 52 week low of $62.40 and a 52 week high of $94.39.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.03. The firm had revenue of $3.91 billion during 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 revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 earnings per share. On average, equities analysts expect that Ingersoll-Rand PLC will post $4.54 EPS for the current year.

Several equities analysts have issued reports on IR shares. Zacks Investment Research upgraded Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research note on Friday, June 16th. Credit Suisse Group restated a “buy” rating and set a $84.00 price target on shares of Ingersoll-Rand PLC (Ireland) in a research note on Tuesday, April 11th. BMO Capital Markets restated a “buy” rating and set a $87.00 price target on shares of Ingersoll-Rand PLC (Ireland) in a research note on Thursday, April 20th. Royal Bank Of Canada boosted their price target on Ingersoll-Rand PLC (Ireland) from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 27th. Finally, Wolfe Research assumed coverage on Ingersoll-Rand PLC (Ireland) in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $97.43.

In other news, insider Paul A. Camuti sold 6,960 shares of Ingersoll-Rand PLC (Ireland) stock in a transaction on Monday, June 5th. The stock was sold at an average price of $89.90, for a total value of $625,704.00. Following the completion of the sale, the insider now owns 64,979 shares of the company’s stock, valued at $5,841,612.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul A. Camuti sold 3,500 shares of Ingersoll-Rand PLC (Ireland) 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 sale, the insider now directly owns 61,519 shares of the company’s stock, valued at approximately $5,514,563.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,943 shares of company stock valued at $1,072,306. Insiders own 0.65% of the company’s stock.

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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