Allegion PLC $ALLE Stock Position Lifted by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its holdings in shares of Allegion PLC (NYSE:ALLE) by 604.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,097 shares of the scientific and technical instruments company’s stock after acquiring an additional 109,045 shares during the period. Retirement Systems of Alabama owned approximately 0.15% of Allegion worth $19,544,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALLE. Continuum Advisory LLC bought a new position in Allegion in the 2nd quarter valued at about $25,000. Elevation Wealth Partners LLC boosted its stake in Allegion by 1,666.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 212 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Allegion during the 2nd quarter valued at about $42,000. Ameritas Advisory Services LLC bought a new stake in Allegion during the 2nd quarter worth approximately $44,000. Finally, Brown Lisle Cummings Inc. increased its holdings in Allegion by 14,733.3% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 445 shares of the scientific and technical instruments company’s stock worth $68,000 after purchasing an additional 442 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Allegion Stock Up 0.8%

ALLE opened at $191.07 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24. The company’s 50-day moving average is $163.46 and its 200 day moving average is $151.83. Allegion PLC has a fifty-two week low of $125.00 and a fifty-two week high of $195.42. The firm has a market capitalization of $16.11 billion, a P/E ratio of 23.80, a PEG ratio of 2.14 and a beta of 0.82.

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

Allegion Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ALLE shares. The Goldman Sachs Group increased their price objective on Allegion from $182.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. Morgan Stanley raised their target price on Allegion from $170.00 to $181.00 and gave the company an “equal weight” rating in a report on Tuesday, November 3rd. Evercore reaffirmed an “outperform” rating and set a $180.00 target price on shares of Allegion in a research report on Tuesday, September 22nd. Robert W. Baird set a $196.00 price target on Allegion in a report on Friday, October 23rd. Finally, Weiss Ratings raised Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Allegion has an average rating of “Moderate Buy” and a consensus target price of $180.70.

Insiders Place Their Bets

In other news, SVP Tracy L. Kemp sold 4,469 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $178.81, for a total transaction of $799,101.89. Following the completion of the transaction, the senior vice president directly owned 11,358 shares of the company’s stock, valued at $2,030,923.98. This represents a 28.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy Eckersley sold 6,364 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $178.62, for a total transaction of $1,136,737.68. Following the sale, the senior vice president owned 22,028 shares of the company’s stock, valued at approximately $3,934,641.36. The trade was a 22.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.64% of the company’s stock.

Allegion Profile

Allegion plc is a global provider of security products and solutions for homes, businesses, schools, hospitals and other institutions. Its offerings include mechanical and electronic locks, access-control systems, door closers, exit devices and related door hardware. The company sells products under brands including Schlage, Von Duprin, LCN and CISA. Its solutions are used in both commercial and residential settings, with operations serving customers in North America and other markets around the world.