Ingersoll-Rand PLC (Ireland) (IR) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc reduced its position in shares of Ingersoll-Rand PLC (Ireland) (NYSE:IR) by 21.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,961 shares of the industrial products company’s stock after selling 8,575 shares during the period. Morse Asset Management Inc’s holdings in Ingersoll-Rand PLC (Ireland) were worth $2,921,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Israel Discount Bank of New York purchased a new position in Ingersoll-Rand PLC (Ireland) during the first quarter worth $126,000. Tradewinds Capital Management LLC boosted its position in shares of 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 shares of 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 shares of 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 shares of 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. 80.57% of the stock is owned by institutional investors.

Ingersoll-Rand PLC (IR) traded down 0.33% during midday trading on Friday, reaching $85.18. 1,333,890 shares of the company traded hands. The firm’s 50 day moving average price is $89.50 and its 200 day moving average price is $85.83. Ingersoll-Rand PLC has a 12 month low of $62.40 and a 12 month high of $94.39. The firm has a market capitalization of $21.61 billion, a price-to-earnings ratio of 21.15 and a beta of 1.31.

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 for the quarter, beating the 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 period in the previous year, the business earned $1.38 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. On average, analysts expect that Ingersoll-Rand PLC will post $4.54 earnings per share for the current year.

The firm 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 dividend of $0.45 per share. This is a positive change from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, September 7th. Ingersoll-Rand PLC (Ireland)’s payout ratio is 39.80%.

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Several equities analysts have recently commented on the stock. BidaskClub cut shares of Ingersoll-Rand PLC (Ireland) from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Zacks Investment Research cut shares of Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $93.00 price target (up previously 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 target on shares of Ingersoll-Rand PLC (Ireland) and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, Wolfe Research assumed coverage on shares of Ingersoll-Rand PLC (Ireland) in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. 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 stock. Ingersoll-Rand PLC (Ireland) has a consensus rating of “Hold” and a consensus price target of $97.43.

In related news, insider Paul A. Camuti sold 6,960 shares of Ingersoll-Rand PLC (Ireland) stock in a transaction dated 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 transaction, the insider now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Swift sold 2,500 shares of Ingersoll-Rand PLC (Ireland) stock in a transaction dated Monday, August 7th. The shares were 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 of the company’s stock, valued at $5,803,993.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,634 shares of company stock worth $3,099,360. 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.

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

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