Allegion plc (NYSE:ALLE) Position Lessened by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in Allegion plc (NYSE:ALLE) by 8.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,580 shares of the scientific and technical instruments company’s stock after selling 240 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Allegion were worth $376,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ALLE. International Assets Investment Management LLC bought a new stake in shares of Allegion in the 3rd quarter valued at approximately $666,840,000. Millennium Management LLC lifted its stake in shares of Allegion by 483.1% in the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock valued at $60,914,000 after purchasing an additional 427,146 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Allegion in the 2nd quarter valued at $27,056,000. AXA S.A. increased its position in shares of Allegion by 83.6% in the 2nd quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company’s stock valued at $39,179,000 after buying an additional 151,013 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Allegion by 7.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock worth $197,575,000 after purchasing an additional 120,870 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ALLE shares. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Wells Fargo & Company raised their price objective on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Barclays raised their price objective on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Robert W. Baird raised their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Mizuho raised their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $144.60.

Insider Activity

In related news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is owned by company insiders.

Allegion Trading Down 0.4 %

Shares of NYSE:ALLE opened at $138.13 on Wednesday. Allegion plc has a 52-week low of $103.19 and a 52-week high of $156.10. The company has a market capitalization of $12.01 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 3.33 and a beta of 1.11. The company has a 50-day simple moving average of $143.88 and a 200 day simple moving average of $131.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71.

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

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.39%. Allegion’s payout ratio is 29.49%.

Allegion Profile

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.