Meeder Asset Management Inc. lowered its stake in shares of Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 28.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 49,946 shares of the industrial products company’s stock after selling 20,049 shares during the period. Meeder Asset Management Inc.’s holdings in Ingersoll-Rand PLC (Ireland) were worth $4,565,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IR. United Capital Financial Advisers LLC raised its stake in shares of 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 in the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of 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 in the last quarter. USA Financial Portformulas Corp acquired a new stake in shares of Ingersoll-Rand PLC (Ireland) during the fourth quarter valued at approximately $3,111,000. Cleararc Capital Inc. raised its position in shares of Ingersoll-Rand PLC (Ireland) by 0.9% in the first quarter. Cleararc Capital Inc. now owns 6,345 shares of the industrial products company’s stock worth $516,000 after buying an additional 55 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of 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 worth $1,340,311,000 after buying an additional 288,826 shares during the period. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll-Rand PLC (NYSE IR) opened at 88.10 on Tuesday. Ingersoll-Rand PLC has a 12-month low of $62.40 and a 12-month high of $94.39. The stock has a market capitalization of $22.35 billion, a PE ratio of 21.87 and a beta of 1.31. The company’s 50-day moving average is $91.09 and its 200 day moving average is $85.26.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.78 billion. During the same period in the previous year, the firm earned $1.38 EPS. Ingersoll-Rand PLC (Ireland)’s revenue was up 4.4% on a year-over-year basis. On average, analysts predict that Ingersoll-Rand PLC will post $4.54 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a $0.45 dividend. This is an increase from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, September 7th. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio (DPR) is 39.80%.

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Several equities research analysts have weighed in on the company. BidaskClub downgraded Ingersoll-Rand PLC (Ireland) from a “sell” rating to a “strong sell” rating in a research report on Saturday. Zacks Investment Research cut Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada restated a “sector perform” rating and set a $93.00 target price (up from $90.00) on shares of Ingersoll-Rand PLC (Ireland) in a research report on Thursday, July 27th. UBS AG set a $97.00 price objective on Ingersoll-Rand PLC (Ireland) and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Wolfe Research initiated coverage on shares of Ingersoll-Rand PLC (Ireland) in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $97.43.

In other Ingersoll-Rand PLC (Ireland) news, EVP Robert Zafari sold 1,483 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $89.59, for a total value of $132,861.97. Following the sale, the executive vice president now owns 66,944 shares of the company’s stock, valued at approximately $5,997,512.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul A. Camuti sold 6,960 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $89.90, for a total transaction of $625,704.00. Following the completion of the sale, the insider now directly owns 64,979 shares in the company, valued at approximately $5,841,612.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,943 shares of company stock worth $1,072,306. 0.65% of the stock is currently owned by 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.

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

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