Trian Partners Discloses an Increased Position in Ingersoll-Rand PLC (IR)

Nelson Peltz‘ Trian Partners significantly increased its position in Ingersoll-Rand PLC (NYSE:IR). According to a recent 13D filing, the fund revealed a current position of 17.90 million shares, a 50% increase from the previously held almost 12.00 million. The current holding represents 6.44% of the company’s common stock.

A few months ago, Trian Partners revealed a new position in Ingersoll’s spin-off Allegion PLC (NYSE:ALLE), which amasses almost 6% of the stock. Mr. Peltz has decided that he would not stand for re-election as a director of Ingersoll-Rand at the 2014 annual shareholder meeting, because of other board commitments, including a recent appointment to the board of Mondelez International Inc (NASDAQ:MDLZ). The fund also holds 12.35 million shares with an aggregate value of slightly more than $1.00 billion in PepsiCo, Inc. (NYSE:PEP).

Incorporated in Dublin, Ireland, Ingersoll-Rand PLC (NYSE:IR), is a global diversified industrial company that provides a wide range of services and products ranging from fluid transfer products and air compressors to golf cars and transport refrigeration units. The company’s list of brands and subsidiaries includes Club Car, Ingersoll Rand, Thermo King, and Trane. Since 2010, Ingersoll-Rand is part of the S&P 500 Index, after being replaced for more than a year by Quanta Services Inc (NYSE:PWR). In 2013, it completed the spinoff of Allegion PLC (NYSE:ALLE), – commercial and residential security businesses. In 2012 the company showed a net income result of more than 1 billion, of which 64.00% has been generated in North American and of which 53.00% is due to operations in the Climate Solutions Sector. Generating an EPS of $2.11 in 2013, the company is expected to produce earnings of $3.14 per share this year. The company currently trades at 20.xx times its earnings (slightly below the industry average), the mean analyst recommendation for investors being to hold the stock.

Managed by Daniel S. Och, OZ Management also holds stock of Ingersoll-Rand PLC (NYSE:IR), having a stake of 7.30 million shares with a total value of almost $450.00 million. Another fond owning a considerable number of shares in the company is Ralph V. Whitworth‘s Relational Investors, with a position of more than 5.40 million shares worth $3.33 million.

Disclosure: none

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