Reuters: Regulatory News: UPDATE 1-Peltz's Trian Fund unveils 7 pct stake in Ingersoll-Rand

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UPDATE 1-Peltz's Trian Fund unveils 7 pct stake in Ingersoll-Rand May 9th 2012, 11:00 Wed May 9, 2012 7:00am EDT May 9 (Reuters) - Activist investor Nelson Peltz said his Trian Fund Management has picked up a more than 7 percent stake in industrial conglomerate Ingersoll-Rand Plc. Trian owned 21.07 million shares in the company as of May 1, a regulatory filing showed. The stake is valued at $890 million and would be Trian's largest investment in a single company, said the Wall Street Journal, which first reported the news. The deal would also make Trian one of Ingersoll-Rand's biggest shareholders. Some analysts, including those at AllianceBernstein and JPMorgan Chase, last year said Ingersoll-Rand shares are undervalued partly because it is a conglomerate that could possibly benefit from separating differing business units or selling off certain divisions, the newspaper said. Company spokeswoman Misty Zelent told Reuters that the shares are up 40 percent so far this year. However, the shares are down about 15 percent over the past year despite the run-up in recent times.

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