BlackRock Inc. raised its stake in shares of Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 0.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 17,590,590 shares of the industrial products company’s stock after purchasing an additional 35,857 shares during the period. BlackRock Inc. owned approximately 6.93% of Ingersoll-Rand PLC (Ireland) worth $1,607,604,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IR. Israel Discount Bank of New York acquired a new position in Ingersoll-Rand PLC (Ireland) during the 1st quarter valued at about $126,000. Zions Bancorporation boosted its stake in Ingersoll-Rand PLC (Ireland) by 1.1% during the 1st quarter. Zions Bancorporation now owns 2,001 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 22 shares during the last quarter. Parallel Advisors LLC boosted its stake in Ingersoll-Rand PLC (Ireland) by 9.6% during the 1st quarter. Parallel Advisors LLC now owns 2,003 shares of the industrial products company’s stock valued at $178,000 after purchasing an additional 176 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Ingersoll-Rand PLC (Ireland) by 6.6% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,106 shares of the industrial products company’s stock valued at $192,000 after purchasing an additional 131 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in Ingersoll-Rand PLC (Ireland) by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 2,392 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 208 shares during the last quarter. Institutional investors and hedge funds own 80.58% of the company’s stock.

A number of equities analysts have recently weighed in on IR shares. UBS AG set a $97.00 target price on Ingersoll-Rand PLC (Ireland) and gave the stock a “buy” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Stifel Nicolaus restated a “buy” rating on shares of Ingersoll-Rand PLC (Ireland) in a research note on Thursday, August 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $93.00 target price (up previously from $90.00) on shares of Ingersoll-Rand PLC (Ireland) in a research note on Thursday, July 27th. Finally, BidaskClub downgraded Ingersoll-Rand PLC (Ireland) from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $99.13.

In related news, EVP Didier P. Teirlinck sold 26,174 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $86.10, for a total value of $2,253,581.40. Following the sale, the executive vice president now owns 131,129 shares in the company, valued at $11,290,206.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Swift sold 2,500 shares of the firm’s 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 completion of the sale, the director now owns 65,932 shares in the company, valued at approximately $5,803,993.96. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Ingersoll-Rand PLC (NYSE IR) traded down 0.64% during midday trading on Friday, hitting $89.44. 2,448,987 shares of the company were exchanged. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of 22.20 and a beta of 1.30. The stock has a 50 day moving average of $86.45 and a 200-day moving average of $86.60. Ingersoll-Rand PLC has a 1-year low of $63.67 and a 1-year high of $94.39.

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, topping the Thomson Reuters’ 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 last year, the company posted $1.38 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Equities 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. Investors of record on Friday, September 8th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.80 annualized dividend and a yield of 2.01%. This is a boost from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio (DPR) is currently 44.78%.

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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.

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

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