Cullen Frost Bankers Inc. cut its position in shares of Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 5.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,994 shares of the industrial products company’s stock after selling 314 shares during the period. Cullen Frost Bankers Inc.’s holdings in Ingersoll-Rand PLC (Ireland) were worth $548,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of 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. increased its stake in shares of 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 acquired a new stake in shares of Ingersoll-Rand PLC (Ireland) during the first quarter worth $33,005,000. Marshall Wace North America L.P. acquired a new stake in shares of Ingersoll-Rand PLC (Ireland) during the first quarter worth $33,005,000. Finally, TIAA CREF Investment Management LLC increased its stake in shares of 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. Institutional investors and hedge funds own 83.11% of the company’s stock.

Ingersoll-Rand PLC (NYSE IR) opened at 88.10 on Tuesday. The company has a market cap of $22.35 billion, a PE ratio of 21.87 and a beta of 1.31. The stock’s 50 day moving average is $91.09 and its 200-day moving average 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 announced its quarterly 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 company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the company earned $1.38 earnings per share. Ingersoll-Rand PLC (Ireland)’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts predict that Ingersoll-Rand PLC will post $4.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.04%. This is a boost from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. Ingersoll-Rand PLC (Ireland)’s payout ratio is currently 39.80%.

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A number of brokerages have weighed in on IR. Zacks Investment Research upgraded Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a report on Friday, July 28th. UBS AG set a $97.00 price target on Ingersoll-Rand PLC (Ireland) and gave the stock a “buy” rating in a report on Thursday, July 27th. BidaskClub downgraded Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $93.00 price target (up from $90.00) on shares of Ingersoll-Rand PLC (Ireland) in a report on Thursday, July 27th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $87.00 price target on shares of Ingersoll-Rand PLC (Ireland) in a report on Thursday, April 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $97.43.

In related news, insider Paul A. Camuti sold 3,500 shares of the business’s stock in a transaction dated 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 in the company, valued at $5,514,563.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul A. Camuti sold 6,960 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $89.90, for a total transaction of $625,704.00. Following the transaction, the insider now owns 64,979 shares in the company, valued at approximately $5,841,612.10. The disclosure for this sale can be found here. Insiders have sold 11,943 shares of company stock worth $1,072,306 in the last quarter. 0.65% of the stock is owned by corporate 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.

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

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