Company Description: Ingersoll-Rand plc, together with its subsidiaries, engages in the design, manufacture, sale, and service of industrial and commercial products in the United States and internationally. It operates in four segments: Air Conditioning Systems and Services, Climate Control Technologies, Industrial Technologies, and Security Technologies. The Air Conditioning Systems and Services segment offers HVAC systems, dehumidifying and air cleaning products, service and parts support, and building controls, as well as financing solutions. This segment serves commercial, residential, institutional, and industrial markets. The Climate Control Technologies segment provides refrigerated display merchandisers; beverage coolers, auxiliary power units, walk-in storage coolers and freezers, and transport temperature control units for food and other perishables. The Industrial Technologies segment manufactures compressed air systems, tools, pumps, fluid handling systems, golf and utility vehicles, and micro turbines. The Security Technologies segment offers electronic and biometric access control systems and software, locks and locksets, door closers, exit devices, steel doors and frames, portable security devices, decorative hardware, and cabinet hardware, as well as time, attendance, and personnel scheduling systems. This segment serves commercial construction and residential housing markets, healthcare, retail, maritime, and transport industries, as well as educational and governmental facilities. The company offers its products under the Club Car, Hussmann, Ingersoll-Rand, Schlage, Thermo King, and Trane brand names. Ingersoll-Rand sells its products through distributors, dealers, and large retailers. The company was founded in 1905 and is based in Dublin, Ireland.

Our Analysis: The shares of Ingersoll-Rand, PLC. 'IR' set a new yearly closing high yesterday on heavier than normal trading volume. In the process they closed above a recently established upside resistance level and completed a "cup pattern" with a measured move to our price target of $39.11/share. I see downside support on the shares of 'IR' @ $35.05/share, and have set my stops accordingly @ $34.91/share.