State Treasurer State of Michigan cut its position in shares of Allegion PLC (NYSE:ALLE) by 8.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,785 shares of the scientific and technical instruments company’s stock after selling 2,500 shares during the quarter. State Treasurer State of Michigan’s holdings in Allegion PLC were worth $2,489,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Achmea Investment Management B.V. purchased a new position in Allegion PLC in the second quarter valued at about $1,090,000. Hall Laurie J Trustee boosted its stake in Allegion PLC by 1,300.0% in the second quarter. Hall Laurie J Trustee now owns 5,600 shares of the scientific and technical instruments company’s stock valued at $454,000 after acquiring an additional 5,200 shares during the last quarter. Sentry Investment Management LLC boosted its stake in Allegion PLC by 12.4% in the second quarter. Sentry Investment Management LLC now owns 4,516 shares of the scientific and technical instruments company’s stock valued at $366,000 after acquiring an additional 497 shares during the last quarter. Toronto Dominion Bank boosted its stake in Allegion PLC by 30.6% in the second quarter. Toronto Dominion Bank now owns 32,277 shares of the scientific and technical instruments company’s stock valued at $2,617,000 after acquiring an additional 7,558 shares during the last quarter. Finally, Nomura Holdings Inc. boosted its stake in Allegion PLC by 109.0% in the second quarter. Nomura Holdings Inc. now owns 7,150 shares of the scientific and technical instruments company’s stock valued at $580,000 after acquiring an additional 3,729 shares during the last quarter. Institutional investors and hedge funds own 90.06% of the company’s stock.
In other Allegion PLC news, insider Timothy P. Eckersley sold 12,782 shares of Allegion PLC stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.14, for a total transaction of $1,037,131.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.64% of the company’s stock.
A number of research analysts have weighed in on the stock. Robert W. Baird set a $85.00 target price on shares of Allegion PLC and gave the company a “hold” rating in a research note on Thursday, August 24th. BidaskClub upgraded shares of Allegion PLC from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Wolfe Research upgraded shares of Allegion PLC from a “market perform” rating to an “outperform” rating in a research note on Monday. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $100.00 price target (up previously from $90.00) on shares of Allegion PLC in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $89.75.
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Allegion PLC (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.02. The company had revenue of $609.40 million for the quarter, compared to the consensus estimate of $622.18 million. Allegion PLC had a net margin of 14.37% and a return on equity of 154.50%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share.
Allegion PLC Company Profile
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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