Ingersoll-Rand PLC (Ireland) (IR) Shares Sold by Symphony Asset Management LLC

Symphony Asset Management LLC decreased its stake in shares of Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,865 shares of the industrial products company’s stock after selling 684 shares during the period. Symphony Asset Management LLC’s holdings in Ingersoll-Rand PLC (Ireland) were worth $1,450,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Israel Discount Bank of New York acquired a new position in Ingersoll-Rand PLC (Ireland) during the first quarter worth approximately $126,000. Tradewinds Capital Management LLC increased its position in Ingersoll-Rand PLC (Ireland) by 9.0% during the first quarter. Tradewinds Capital Management LLC now owns 1,690 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 140 shares during the last quarter. Zions Bancorporation increased its position in Ingersoll-Rand PLC (Ireland) by 1.1% during the first quarter. Zions Bancorporation now owns 2,001 shares of the industrial products company’s stock worth $163,000 after purchasing an additional 22 shares during the last quarter. Parallel Advisors LLC increased its position in Ingersoll-Rand PLC (Ireland) by 9.6% during the first quarter. Parallel Advisors LLC now owns 2,003 shares of the industrial products company’s stock worth $178,000 after purchasing an additional 176 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. increased its position in Ingersoll-Rand PLC (Ireland) by 6.6% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,106 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 131 shares during the last quarter. 80.58% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Friday, June 16th. Credit Suisse Group reissued a “buy” rating and issued a $105.00 price objective on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, July 11th. Wolfe Research assumed coverage on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Ingersoll-Rand PLC (Ireland) in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $99.75.

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

Ingersoll-Rand PLC (NYSE IR) traded up 1.88% on Tuesday, reaching $90.18. 292,437 shares of the company’s stock were exchanged. The stock has a market capitalization of $22.88 billion, a PE ratio of 22.39 and a beta of 1.30. Ingersoll-Rand PLC has a 12 month low of $62.97 and a 12 month high of $94.39. The firm has a 50 day moving average of $86.28 and a 200 day moving average of $86.41.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the firm posted $1.38 earnings per share. Ingersoll-Rand PLC (Ireland)’s revenue was up 4.4% compared to the same quarter last year. Equities analysts predict that Ingersoll-Rand PLC will post $4.54 earnings per share for the current fiscal 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 given a dividend of $0.45 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.03%. This is a positive change from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. Ingersoll-Rand PLC (Ireland)’s payout ratio is 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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