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Ingersoll Rand Tumbles After Cutting Sales, Profit Forecasts

Ingersoll Rand fell the most in almost three years after cutting its full-year sales and profit forecasts amid slowing demand for climate control and residential-security businesses.

Shares of the maker of security systems and Trane air conditioners dropped $3.87, or 12 percent, to $28.09 at 4:15 p.m. in New York Stock Exchange composite trading, the biggest decline since Nov. 20, 2008. The shares have fallen 40 percent this year.