Retirement Systems of Alabama Raises Position in Allegion PLC (ALLE)
Retirement Systems of Alabama boosted its stake in shares of Allegion PLC (NYSE:ALLE) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,192 shares of the scientific and technical instruments company’s stock after buying an additional 41 shares during the period. Retirement Systems of Alabama’s holdings in Allegion PLC were worth $3,747,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of ALLE. CIBC Asset Management Inc increased its stake in Allegion PLC by 0.5% in the second quarter. CIBC Asset Management Inc now owns 6,062 shares of the scientific and technical instruments company’s stock valued at $492,000 after buying an additional 28 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Allegion PLC by 2.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,256 shares of the scientific and technical instruments company’s stock valued at $171,000 after buying an additional 59 shares during the last quarter. Mason Street Advisors LLC increased its stake in Allegion PLC by 0.6% in the first quarter. Mason Street Advisors LLC now owns 13,194 shares of the scientific and technical instruments company’s stock valued at $999,000 after buying an additional 76 shares during the last quarter. Utah Retirement Systems increased its stake in Allegion PLC by 0.6% in the first quarter. Utah Retirement Systems now owns 17,565 shares of the scientific and technical instruments company’s stock valued at $1,330,000 after buying an additional 100 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in Allegion PLC by 6.1% in the first quarter. Thrivent Financial For Lutherans now owns 3,501 shares of the scientific and technical instruments company’s stock valued at $265,000 after buying an additional 200 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.
Allegion PLC (NYSE ALLE) opened at 78.17 on Monday. Allegion PLC has a 12 month low of $61.47 and a 12 month high of $82.90. The company has a 50-day moving average price of $80.56 and a 200 day moving average price of $77.14. The firm has a market cap of $7.42 billion, a PE ratio of 30.24 and a beta of 1.10.
Allegion PLC (NYSE:ALLE) last released its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.11. The company had revenue of $627 million for the quarter, compared to analysts’ expectations of $613.37 million. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. Equities research analysts anticipate that Allegion PLC will post $3.78 EPS for the current year.
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Several research firms have recently weighed in on ALLE. Imperial Capital boosted their target price on Allegion PLC from $79.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Credit Suisse Group reissued a “buy” rating and issued a $89.00 target price on shares of Allegion PLC in a report on Friday, April 28th. Zacks Investment Research downgraded Allegion PLC from a “buy” rating to a “hold” rating in a report on Monday, June 12th. BidaskClub upgraded Allegion PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Wolfe Research assumed coverage on Allegion PLC in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $86.00.
In other news, insider Todd V. Graves sold 1,858 shares of Allegion PLC stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $79.19, for a total transaction of $147,135.02. Following the sale, the insider now owns 12,084 shares of the company’s stock, valued at $956,931.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Timothy P. Eckersley sold 12,782 shares of Allegion PLC stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.14, for a total value of $1,037,131.48. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.
About Allegion PLC
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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