Broderick Brian C Cuts Stake in Ingersoll-Rand PLC (Ireland) (NYSE:IR)

Broderick Brian C cut its stake in Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,900 shares of the industrial products company’s stock after selling 276 shares during the period. Broderick Brian C’s holdings in Ingersoll-Rand PLC (Ireland) were worth $722,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Israel Discount Bank of New York bought a new position in Ingersoll-Rand PLC (Ireland) during the first quarter valued at $126,000. Tradewinds Capital Management LLC boosted 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 valued at $137,000 after buying an additional 140 shares during the last quarter. Zions Bancorporation boosted 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 valued at $163,000 after buying an additional 22 shares during the last quarter. Parallel Advisors LLC boosted 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 valued at $178,000 after buying an additional 176 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. boosted 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 valued at $192,000 after buying an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Shares of Ingersoll-Rand PLC (NYSE:IR) traded down 0.33% during mid-day trading on Friday, hitting $85.18. 1,333,890 shares of the stock were exchanged. Ingersoll-Rand PLC has a 52-week low of $62.40 and a 52-week high of $94.39. The company has a market cap of $21.61 billion, a P/E ratio of 21.15 and a beta of 1.31. The stock’s 50-day moving average price is $89.50 and its 200-day moving average price is $85.83.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.03. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.78 billion. Ingersoll-Rand PLC (Ireland) had a net margin of 7.60% and a return on equity of 16.64%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 EPS. Equities research analysts anticipate that Ingersoll-Rand PLC will post $4.54 earnings per share for the current fiscal 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 issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.11%. This is a positive change from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, September 7th. Ingersoll-Rand PLC (Ireland)’s payout ratio is 39.80%.

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IR has been the subject of several research reports. BMO Capital Markets reissued a “buy” rating and set a $87.00 price objective on shares of Ingersoll-Rand PLC (Ireland) in a report on Thursday, April 20th. Royal Bank Of Canada boosted their price objective on shares of Ingersoll-Rand PLC (Ireland) from $83.00 to $85.00 and gave the company a “sector perform” rating in a report on Thursday, April 27th. Stifel Nicolaus boosted their price objective 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. Finally, Zacks Investment Research raised shares of Ingersoll-Rand PLC (Ireland) from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a report on Thursday, May 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $97.43.

In related news, 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 value of $625,704.00. Following the completion of the sale, the insider now owns 64,979 shares of the company’s stock, valued at approximately $5,841,612.10. The sale was disclosed in a legal filing with the SEC, which is available through 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 completion of the sale, the director now directly owns 65,932 shares of the company’s stock, valued at approximately $5,803,993.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,634 shares of company stock valued at $3,099,360. Insiders own 0.65% of the company’s stock.

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.

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

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