Wetherby Asset Management Inc. cut its position in Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,404 shares of the industrial products company’s stock after selling 25 shares during the period. Wetherby Asset Management Inc.’s holdings in Ingersoll-Rand PLC (Ireland) were worth $494,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hermes Investment Management Ltd. increased its position in shares of Ingersoll-Rand PLC (Ireland) by 0.9% in the first quarter. Hermes Investment Management Ltd. now owns 343,829 shares of the industrial products company’s stock worth $27,960,000 after buying an additional 3,186 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Ingersoll-Rand PLC (Ireland) during the first quarter worth about $1,341,000. Huntington National Bank increased its position in shares of Ingersoll-Rand PLC (Ireland) by 1.7% in the first quarter. Huntington National Bank now owns 4,669 shares of the industrial products company’s stock worth $380,000 after buying an additional 80 shares in the last quarter. Boys Arnold & Co. Inc. increased its position in shares of Ingersoll-Rand PLC (Ireland) by 2.3% in the first quarter. Boys Arnold & Co. Inc. now owns 21,800 shares of the industrial products company’s stock worth $1,773,000 after buying an additional 500 shares in the last quarter. Finally, Ledyard National Bank increased its position in shares of 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 worth $462,000 after buying an additional 150 shares in the last quarter. Institutional investors own 83.11% of the company’s stock.

Shares of Ingersoll-Rand PLC (NYSE:IR) opened at 85.09 on Friday. The company has a 50-day moving average of $90.21 and a 200 day moving average of $85.61. The stock has a market cap of $21.58 billion, a P/E ratio of 21.12 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.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.03. Ingersoll-Rand PLC (Ireland) had a return on equity of 16.64% and a net margin of 7.60%. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the business posted $1.38 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts forecast 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. 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 yield of 2.12%. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio (DPR) is 39.80%.

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A number of research analysts recently issued reports on the stock. Credit Suisse Group reiterated a “buy” rating and issued a $105.00 price target on shares of Ingersoll-Rand PLC (Ireland) in a research note on Tuesday, July 11th. Wolfe Research assumed coverage on shares of Ingersoll-Rand PLC (Ireland) in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research downgraded shares of Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BMO Capital Markets reiterated a “buy” rating and issued a $100.00 price target on shares of Ingersoll-Rand PLC (Ireland) in a research note on Tuesday, May 2nd. Finally, Stifel Nicolaus lifted their price target on shares of Ingersoll-Rand PLC (Ireland) from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, April 27th. One investment 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. The company currently has a consensus rating of “Hold” and an average price target of $97.43.

In related news, insider Paul A. Camuti sold 3,500 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $89.64, for a total transaction of $313,740.00. Following the transaction, the insider now directly owns 61,519 shares in the company, valued at $5,514,563.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard J. Swift sold 2,500 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $88.03, for a total value of $220,075.00. Following the transaction, the director now owns 65,932 shares in the company, valued at $5,803,993.96. The disclosure for this sale can be found here. Insiders have sold 14,443 shares of company stock worth $1,292,381 over the last 90 days. 0.65% of the stock is currently 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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