Russell Investments Group Ltd. Acquires 13,634 Shares of Ingersoll-Rand PLC (Ireland) (NYSE:IR)

Russell Investments Group Ltd. raised its position in shares of Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 10.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139,187 shares of the industrial products company’s stock after buying an additional 13,634 shares during the period. Russell Investments Group Ltd.’s holdings in Ingersoll-Rand PLC (Ireland) were worth $12,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of IR. Israel Discount Bank of New York acquired a new position in Ingersoll-Rand PLC (Ireland) during the first quarter worth $126,000. Tradewinds Capital Management LLC raised its position in Ingersoll-Rand PLC (Ireland) by 9.0% in the first quarter. Tradewinds Capital Management LLC now owns 1,690 shares of the industrial products company’s stock worth $137,000 after buying an additional 140 shares during the period. Zions Bancorporation raised its position in Ingersoll-Rand PLC (Ireland) by 1.1% in the first quarter. Zions Bancorporation now owns 2,001 shares of the industrial products company’s stock worth $163,000 after buying an additional 22 shares during the period. Parallel Advisors LLC raised its position in Ingersoll-Rand PLC (Ireland) by 9.6% in the first quarter. Parallel Advisors LLC now owns 2,003 shares of the industrial products company’s stock worth $178,000 after buying an additional 176 shares during the period. Finally, Independent Portfolio Consultants Inc. raised its position in Ingersoll-Rand PLC (Ireland) by 6.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,106 shares of the industrial products company’s stock worth $192,000 after buying an additional 131 shares during the period. 83.11% of the stock is owned by hedge funds and other institutional investors.

Shares of Ingersoll-Rand PLC (NYSE:IR) traded up 0.13% during mid-day trading on Friday, reaching $85.09. The company had a trading volume of 2,023,511 shares. The company has a market capitalization of $21.58 billion, a PE ratio of 21.12 and a beta of 1.31. Ingersoll-Rand PLC has a 1-year low of $62.40 and a 1-year high of $94.39. The stock’s 50-day moving average price is $90.21 and its 200 day moving average price is $85.61.

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, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.03. The company had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Ingersoll-Rand PLC (Ireland) had a return on equity of 16.64% and a net margin of 7.60%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 EPS. Equities analysts expect that Ingersoll-Rand PLC will post $4.54 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a $0.45 dividend. 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%. The ex-dividend date is Thursday, September 7th. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio is presently 39.80%.

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A number of research analysts recently weighed in on IR shares. Zacks Investment Research raised shares of Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a report on Thursday, May 18th. BMO Capital Markets reissued a “buy” rating and issued a $100.00 target price on shares of Ingersoll-Rand PLC (Ireland) in a report on Tuesday, May 2nd. Stifel Nicolaus raised their target price on shares of Ingersoll-Rand PLC (Ireland) from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, April 27th. Credit Suisse Group reissued a “buy” rating and issued a $105.00 target price on shares of Ingersoll-Rand PLC (Ireland) in a report on Tuesday, July 11th. Finally, UBS AG set a $97.00 price target on Ingersoll-Rand PLC (Ireland) and gave the stock a “buy” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $97.43.

In other Ingersoll-Rand PLC (Ireland) news, EVP Robert Zafari sold 1,483 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $89.59, for a total value of $132,861.97. Following the completion of the sale, the executive vice president now directly owns 66,944 shares in the company, valued at approximately $5,997,512.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul A. Camuti sold 3,500 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $89.64, for a total value of $313,740.00. Following the transaction, the insider now owns 61,519 shares of the company’s stock, valued at $5,514,563.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,443 shares of company stock valued at $1,292,381. 0.65% of the stock is owned by company 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.

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

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