Westfield Capital Management Co. LP Buys New Holdings in Ingersoll-Rand PLC (Ireland) (IR)

Westfield Capital Management Co. LP bought a new position in shares of Ingersoll-Rand PLC (Ireland) (NYSE:IR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,104,382 shares of the industrial products company’s stock, valued at approximately $100,929,000. Westfield Capital Management Co. LP owned about 0.44% of Ingersoll-Rand PLC (Ireland) at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Ingersoll-Rand PLC (Ireland) by 1,560.6% during the 1st quarter. BlackRock Inc. now owns 17,554,733 shares of the industrial products company’s stock worth $1,427,553,000 after purchasing an additional 16,497,616 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Ingersoll-Rand PLC (Ireland) by 1.8% in the first quarter. Vanguard Group Inc. now owns 16,481,935 shares of the industrial products company’s stock valued at $1,340,311,000 after acquiring an additional 288,826 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Ingersoll-Rand PLC (Ireland) by 182.4% in the second quarter. JPMorgan Chase & Co. now owns 11,926,345 shares of the industrial products company’s stock valued at $1,089,950,000 after acquiring an additional 7,702,903 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Ingersoll-Rand PLC (Ireland) by 1.7% in the second quarter. Ameriprise Financial Inc. now owns 5,803,838 shares of the industrial products company’s stock valued at $530,374,000 after acquiring an additional 94,526 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Ingersoll-Rand PLC (Ireland) by 0.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,812,712 shares of the industrial products company’s stock valued at $391,370,000 after acquiring an additional 41,198 shares during the last quarter. Institutional investors and hedge funds own 80.58% of the company’s stock.

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Shares of Ingersoll-Rand PLC (NYSE IR) traded down 0.64% during mid-day trading on Friday, reaching $89.44. The company’s stock had a trading volume of 2,448,987 shares. Ingersoll-Rand PLC has a 1-year low of $63.67 and a 1-year high of $94.39. The company has a market capitalization of $22.69 billion, a price-to-earnings ratio of 22.20 and a beta of 1.30. The firm’s 50 day moving average price is $86.45 and its 200-day moving average price is $86.60.

Ingersoll-Rand PLC (Ireland) (NYSE:IR) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.03. The company had revenue of $3.91 billion for 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%. Ingersoll-Rand PLC (Ireland)’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.38 EPS. On average, analysts predict that Ingersoll-Rand PLC will post $4.54 EPS for the current year.

The business also recently declared 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 represents a $1.80 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 7th. This is a positive change from Ingersoll-Rand PLC (Ireland)’s previous quarterly dividend of $0.40. Ingersoll-Rand PLC (Ireland)’s dividend payout ratio (DPR) is 44.78%.

A number of research analysts recently commented on the company. Wolfe Research assumed coverage on Ingersoll-Rand PLC (Ireland) in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Credit Suisse Group reiterated a “buy” rating and issued a $105.00 price objective on shares of Ingersoll-Rand PLC (Ireland) in a report on Tuesday, July 11th. Zacks Investment Research cut Ingersoll-Rand PLC (Ireland) from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Stifel Nicolaus decreased their price objective on Ingersoll-Rand PLC (Ireland) from $103.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $105.00 price objective on shares of Ingersoll-Rand PLC (Ireland) in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $99.13.

In other Ingersoll-Rand PLC (Ireland) news, EVP Didier P. Teirlinck sold 26,174 shares of Ingersoll-Rand PLC (Ireland) stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $86.10, for a total value of $2,253,581.40. Following the transaction, the executive vice president now owns 131,129 shares in the company, valued at approximately $11,290,206.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard J. Swift sold 2,500 shares of Ingersoll-Rand PLC (Ireland) stock in a transaction on Monday, August 7th. The shares were sold at an average price of $88.03, for a total transaction of $220,075.00. Following the completion of the transaction, the director now owns 65,932 shares in the company, valued at approximately $5,803,993.96. The disclosure for this sale can be found here. 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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