Prudential Financial Inc. Sells 3,240 Shares of Allegion PLC (ALLE)
Prudential Financial Inc. lowered its position in Allegion PLC (NYSE:ALLE) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 129,594 shares of the scientific and technical instruments company’s stock after selling 3,240 shares during the period. Prudential Financial Inc. owned approximately 0.14% of Allegion PLC worth $10,513,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Great Lakes Advisors LLC purchased a new stake in Allegion PLC in the second quarter valued at approximately $2,775,000. American Century Companies Inc. boosted its position in Allegion PLC by 0.8% in the second quarter. American Century Companies Inc. now owns 1,901,388 shares of the scientific and technical instruments company’s stock valued at $154,241,000 after buying an additional 14,656 shares during the last quarter. Victory Capital Management Inc. boosted its position in Allegion PLC by 19.7% in the second quarter. Victory Capital Management Inc. now owns 4,230 shares of the scientific and technical instruments company’s stock valued at $343,000 after buying an additional 696 shares during the last quarter. TrimTabs Asset Management LLC purchased a new stake in Allegion PLC in the second quarter valued at approximately $250,000. Finally, State Board of Administration of Florida Retirement System boosted its position in Allegion PLC by 3.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 141,384 shares of the scientific and technical instruments company’s stock valued at $11,469,000 after buying an additional 4,505 shares during the last quarter. Hedge funds and other institutional investors own 89.86% of the company’s stock.
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In other news, insider Timothy P. Eckersley sold 12,782 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $81.14, for a total value of $1,037,131.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.64% of the company’s stock.
Shares of Allegion PLC (NYSE ALLE) opened at 81.07 on Tuesday. The firm has a 50-day moving average price of $79.50 and a 200 day moving average price of $78.15. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 31.36 and a beta of 1.10. Allegion PLC has a 52-week low of $61.47 and a 52-week high of $82.90.
Allegion PLC (NYSE:ALLE) last released its earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.11. The business had revenue of $627 million for the quarter, compared to analyst estimates of $613.37 million. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The company’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. Analysts expect that Allegion PLC will post $3.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, September 15th. Allegion PLC’s payout ratio is currently 24.62%.
A number of equities research analysts recently commented on the company. BidaskClub upgraded Allegion PLC from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Zacks Investment Research upgraded Allegion PLC from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Friday, June 30th. Robert W. Baird set a $85.00 target price on Allegion PLC and gave the company a “hold” rating in a research report on Thursday, August 24th. Imperial Capital upped their target price on Allegion PLC from $79.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $86.00.
Allegion PLC Profile
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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