Standard and Poor's said Wednesday it will industrial manufacturer Ingersoll-Rand PLC on its S&P 500 index next Tuesday, replacing Hefty bag maker Pactiv Corp.
Pactiv is being acquired by Reynolds Group Holding Ltd. in a $4.4 billion deal expected to close this week.
Ingersoll-Rand, which is based in Swords, Ireland, designs, makes and sells a variety of products, from golf carts to power tools to boilers, air conditioners and furnaces. It was added to the index's industrial machinery sub-index.
The S&P 500 includes 500 leading companies in various industries of the U.S. economy.
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Ingersoll-Rand shares rose 5 percent, or $2.16, to $43.30 in after-hours trading.