Allegion plc (NYSE:ALLE) Shares Sold by Tredje AP fonden

Tredje AP fonden trimmed its position in shares of Allegion plc (NYSE:ALLE) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,438 shares of the scientific and technical instruments company’s stock after selling 431 shares during the period. Tredje AP fonden’s holdings in Allegion were worth $3,242,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ALLE. Norges Bank purchased a new stake in shares of Allegion during the fourth quarter worth $110,740,000. APG Asset Management US Inc. purchased a new stake in shares of Allegion during the fourth quarter worth $66,449,000. Renaissance Technologies LLC purchased a new stake in shares of Allegion during the second quarter worth $27,056,000. Hawk Ridge Capital Management LP increased its position in shares of Allegion by 39.8% during the fourth quarter. Hawk Ridge Capital Management LP now owns 712,774 shares of the scientific and technical instruments company’s stock worth $90,301,000 after acquiring an additional 202,774 shares during the period. Finally, Public Employees Retirement Association of Colorado purchased a new position in Allegion in the fourth quarter valued at $16,902,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ALLE shares. Barclays increased their target price on Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a report on Thursday, July 25th. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Finally, Wells Fargo & Company increased their target price on Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $125.40.

Allegion Stock Performance

Shares of ALLE stock opened at $143.75 on Friday. The stock’s 50-day moving average is $133.55 and its two-hundred day moving average is $127.55. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 4.21 and a beta of 1.12. Allegion plc has a 1 year low of $95.94 and a 1 year high of $146.41. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.12. The company had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.76 earnings per share. Analysts predict that Allegion plc will post 7.26 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.34%. Allegion’s dividend payout ratio (DPR) is 31.32%.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.