Billionaire Investor Peltz Sells More Ingersoll-Rand Stock

Billionaire investor Nelson Peltz has sold millions of Ingersoll-Rand stock for the second time in a week, according to a regulatory filing submitted on Friday by the industrial conglomerate. Peltz now owns 12,279,858 shares, or 4.66% of the shares outstanding, which is 2,336,908 shares less than he did on Feb. 12, according to a form 13D/A filing. A similar filing on Feb. 12 indicated he held 2,608,057 shares less than the previous 13D/A filed in March 2014. Peltz is cofounder of the hedge fund Trian Fund Management. Ingersoll-Rand's stock rose 1.2% in afternoon trade. It has gained rallied 9.2% over the past three months, compared with a 2.5% gain in the S&P 500.