HON - Ingersoll-Rand Makes A Big Move And The Street Very Much Approves

I’ve liked Ingersoll-Rand (IR) for a little while and thought it was still one of the better ideas in the multi-industrial space back in late January, but I wasn’t expect quite this level of performance, as Ingersoll-Rand has outdone even Honeywell (HON), though still lagging Atlas Copco (ATLKY). Of course, much of that outperformance was driven by the announcement that Ingersoll-Rand would be merging its Industrial business with Gardner Denver (GDI) in a Reverse Morris Trust; although I thought something in the direction of a break-up

Read more ...