Activist investor Ralph Whitworth yesterday confirmed he has a 3.8 percent stake in industrial conglomerate Ingersoll Rand, where hedge fund manager Nelson Peltz is also a big investor.
As The Post first reported yesterday, Whitworth has been quietly building a stake in the $14 billion maker of golf carts and industrial equipment amid concerns about the company’s margins and “business mix.”
Whitworth, head of $5 billion hedge fund Relational Investors, owns 11.4 million shares in Ingersoll Rand, making him the company’s eighth-largest investor.
Peltz’s Trian Fund Management is Ingersoll’s third-largest investor with 4.5 percent of the common shares. Trian’s stake is 7.1 percent including derivatives.