Retirement Systems of Alabama Cuts Stock Holdings in Allegion plc (NYSE:ALLE)

Retirement Systems of Alabama lowered its position in Allegion plc (NYSE:ALLE) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,207 shares of the scientific and technical instruments company’s stock after selling 81 shares during the period. Retirement Systems of Alabama’s holdings in Allegion were worth $2,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. lifted its holdings in shares of Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 72 shares during the period. Brooklyn Investment Group acquired a new stake in Allegion in the third quarter valued at $28,000. Crewe Advisors LLC boosted its position in shares of Allegion by 160.2% during the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Concord Wealth Partners acquired a new position in shares of Allegion during the 3rd quarter worth $29,000. Finally, Cromwell Holdings LLC increased its holdings in shares of Allegion by 65.2% in the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Transactions at Allegion

In other Allegion news, CEO John H. Stone acquired 7,500 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the transaction, the senior vice president now owns 7,104 shares of the company’s stock, valued at $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Allegion Trading Up 1.2 %

Shares of Allegion stock opened at $132.18 on Friday. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The business has a 50 day moving average price of $141.83 and a 200 day moving average price of $134.41. The company has a market capitalization of $11.49 billion, a P/E ratio of 20.30, a P/E/G ratio of 3.35 and a beta of 1.10.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. The company had revenue of $967.10 million during the quarter, compared to analysts’ expectations of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.94 earnings per share. Sell-side analysts anticipate that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.92 annualized dividend and a dividend yield of 1.45%. Allegion’s dividend payout ratio is currently 29.49%.

Wall Street Analyst Weigh In

ALLE has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Wells Fargo & Company boosted their price target on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Robert W. Baird raised their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Mizuho boosted their target price on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. 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 data from MarketBeat, Allegion currently has an average rating of “Hold” and an average target price of $144.60.

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.