Qube Research & Technologies Ltd purchased a new position in shares of Ingersoll-Rand PLC (NYSE:IR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,471 shares of the industrial products company’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of IR. Park Avenue Securities LLC boosted its position in shares of Ingersoll-Rand by 17.7% in the second quarter. Park Avenue Securities LLC now owns 3,463 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 521 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Ingersoll-Rand by 38.6% in the second quarter. Synovus Financial Corp now owns 1,898 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 529 shares during the last quarter. United Capital Financial Advisers LLC boosted its position in shares of Ingersoll-Rand by 7.1% in the first quarter. United Capital Financial Advisers LLC now owns 8,600 shares of the industrial products company’s stock worth $735,000 after acquiring an additional 571 shares during the last quarter. Hemenway Trust Co LLC boosted its position in shares of Ingersoll-Rand by 17.9% in the second quarter. Hemenway Trust Co LLC now owns 3,950 shares of the industrial products company’s stock worth $354,000 after acquiring an additional 600 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Ingersoll-Rand by 16.5% in the second quarter. Dynamic Technology Lab Private Ltd now owns 4,542 shares of the industrial products company’s stock worth $408,000 after acquiring an additional 643 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

NYSE IR opened at $103.40 on Monday. Ingersoll-Rand PLC has a 52 week low of $79.63 and a 52 week high of $104.25. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 1.30. The firm has a market cap of $25.23 billion, a PE ratio of 22.93, a PEG ratio of 1.60 and a beta of 1.33.

Ingersoll-Rand (NYSE:IR) last posted its 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. Ingersoll-Rand had a net margin of 9.28% and a return on equity of 18.11%. The business had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the company posted $1.49 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. equities research analysts anticipate that Ingersoll-Rand PLC will post 5.54 earnings per share for the current year.

A number of brokerages have weighed in on IR. Zacks Investment Research cut shares of Ingersoll-Rand from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. UBS Group lifted their price target on shares of Ingersoll-Rand from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Cowen reaffirmed a “buy” rating and set a $115.00 price target on shares of Ingersoll-Rand in a research report on Monday, September 10th. Morgan Stanley began coverage on shares of Ingersoll-Rand in a research report on Monday, August 20th. They set an “overweight” rating and a $111.00 price target on the stock. Finally, Bank of America lifted their price target on shares of Ingersoll-Rand from $96.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $109.55.

In other news, Director Jared L. Cohon sold 2,663 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $97.30, for a total transaction of $259,109.90. Following the transaction, the director now directly owns 24,153 shares of the company’s stock, valued at $2,350,086.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David S. Regnery sold 12,098 shares of the business’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $97.00, for a total transaction of $1,173,506.00. Following the transaction, the executive vice president now directly owns 55,810 shares in the company, valued at $5,413,570. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,561 shares of company stock worth $2,563,616. Corporate insiders own 0.70% of the company’s stock.

Ingersoll-Rand Company Profile

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.

Further Reading: Asset Allocation and Your Retirement

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

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