VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Allegion PLC $ALLE

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Allegion PLC (NYSE:ALLE) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 23,900 shares of the scientific and technical instruments company’s stock, valued at approximately $3,675,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of Allegion by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company’s stock worth $123,952,000 after purchasing an additional 13,186 shares in the last quarter. Hawk Ridge Capital Management LP lifted its stake in Allegion by 32.9% during the first quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock valued at $116,640,000 after buying an additional 198,800 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Allegion by 19.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 599,326 shares of the scientific and technical instruments company’s stock worth $87,076,000 after purchasing an additional 97,304 shares in the last quarter. Bank of America Corp DE increased its position in Allegion by 5.5% during the first quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company’s stock worth $78,766,000 after buying an additional 28,449 shares during the last quarter. Finally, Amundi boosted its holdings in Allegion by 2.4% in the 1st quarter. Amundi now owns 541,600 shares of the scientific and technical instruments company’s stock valued at $78,689,000 after purchasing an additional 12,917 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Up 0.1%

ALLE opened at $186.58 on Monday. The company’s 50-day moving average price is $158.50 and its two-hundred day moving average price is $150.81. Allegion PLC has a twelve month low of $125.00 and a twelve month high of $189.59. The stock has a market cap of $15.73 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.10 and a beta of 0.81. The company has a quick ratio of 1.24, a current ratio of 1.90 and a debt-to-equity ratio of 0.94.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.10. Allegion had a net margin of 15.74% and a return on equity of 35.52%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $2.30 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities analysts expect that Allegion PLC will post 9.10 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Allegion’s payout ratio is 27.40%.

Insider Activity

In related news, SVP Vincent Wenos sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $168.25, for a total value of $168,250.00. Following the sale, the senior vice president directly owned 12,096 shares of the company’s stock, valued at $2,035,152. This trade represents a 7.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy P. Eckersley sold 6,364 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $178.62, for a total value of $1,136,737.68. Following the transaction, the senior vice president directly owned 22,028 shares in the company, valued at $3,934,641.36. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,833 shares of company stock worth $2,104,090 over the last ninety days. 0.64% of the stock is owned by insiders.

Analysts Set New Price Targets

ALLE has been the topic of a number of research reports. Weiss Ratings upgraded shares of Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Mizuho set a $180.00 price objective on shares of Allegion in a research note on Friday, October 23rd. Morgan Stanley set a $170.00 target price on shares of Allegion in a research note on Monday, October 26th. JPMorgan Chase & Co. increased their target price on Allegion from $170.00 to $183.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Finally, The Goldman Sachs Group boosted their target price on Allegion from $182.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.60.

About Allegion

Allegion plc (NYSE:ALLE) is a global security products and solutions company focused on protecting people and property. Its portfolio includes mechanical and electronic locks, access control systems, door closers, exit devices, door controls, and commercial doors and frames.

The company serves commercial, institutional, industrial, and residential customers through well-known brands including Schlage, Von Duprin, LCN, Steelcraft, Briton, and aptiQ. Its offerings range from traditional hardware to connected and electronic access solutions designed for offices, schools, healthcare facilities, multifamily properties, and homes.

Allegion was established as an independent public company in 2013 following its separation from Ingersoll Rand.