Flagship Harbor Advisors LLC acquired a new stake in Ingersoll-Rand PLC (NYSE:IR) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,181 shares of the industrial products company’s stock, valued at approximately $106,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Ingersoll-Rand by 0.9% during the second quarter. BlackRock Inc. now owns 18,123,653 shares of the industrial products company’s stock worth $1,626,236,000 after buying an additional 153,801 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Ingersoll-Rand by 16.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,869,560 shares of the industrial products company’s stock worth $616,406,000 after buying an additional 954,768 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Ingersoll-Rand by 4.7% during the second quarter. Bank of America Corp DE now owns 3,636,243 shares of the industrial products company’s stock worth $326,281,000 after buying an additional 162,210 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Ingersoll-Rand by 26.6% during the second quarter. Voya Investment Management LLC now owns 3,569,583 shares of the industrial products company’s stock worth $320,299,000 after buying an additional 750,879 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Ingersoll-Rand by 20.8% during the second quarter. American Century Companies Inc. now owns 2,824,836 shares of the industrial products company’s stock worth $253,473,000 after buying an additional 485,451 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

IR has been the topic of a number of research reports. Argus boosted their target price on shares of Ingersoll-Rand from $100.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Zacks Investment Research raised shares of Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research note on Sunday, July 15th. UBS Group boosted their target price on shares of Ingersoll-Rand from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Cowen reaffirmed a “buy” rating and set a $115.00 target price on shares of Ingersoll-Rand in a research note on Monday, September 10th. Finally, Bank of America boosted their target price on shares of Ingersoll-Rand from $96.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, July 30th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $109.55.

Shares of NYSE:IR opened at $103.02 on Tuesday. The firm has a market cap of $25.23 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.60 and a beta of 1.33. The company has a current ratio of 1.30, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55. Ingersoll-Rand PLC has a 52 week low of $79.63 and a 52 week high of $104.25.

Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.13. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.21 billion. Ingersoll-Rand had a net margin of 9.28% and a return on equity of 18.11%. Ingersoll-Rand’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.49 earnings per share. equities analysts anticipate that Ingersoll-Rand PLC will post 5.54 earnings per share for the current year.

In related news, SVP Marcia J. Avedon sold 10,408 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $104.00, for a total value of $1,082,432.00. Following the transaction, the senior vice president now owns 125,098 shares in the company, valued at $13,010,192. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Marcia J. Avedon sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $96.00, for a total transaction of $960,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,969 shares of company stock worth $3,646,048. 0.70% of the stock is owned by company insiders.

About Ingersoll-Rand

Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.

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

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