Xact Kapitalforvaltning AB acquired a new stake in Allegion PLC (NYSE:ALLE) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 14,706 shares of the scientific and technical instruments company’s stock, valued at approximately $1,193,000.
Several other hedge funds also recently modified their holdings of ALLE. World Asset Management Inc increased its stake in shares of Allegion PLC by 20.7% in the first quarter. World Asset Management Inc now owns 10,291 shares of the scientific and technical instruments company’s stock valued at $779,000 after buying an additional 1,768 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Allegion PLC by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 388,934 shares of the scientific and technical instruments company’s stock valued at $24,894,000 after buying an additional 7,183 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in shares of Allegion PLC by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 83,393 shares of the scientific and technical instruments company’s stock valued at $6,313,000 after buying an additional 2,170 shares during the period. Jennison Associates LLC increased its stake in shares of Allegion PLC by 16.2% in the first quarter. Jennison Associates LLC now owns 1,276,621 shares of the scientific and technical instruments company’s stock valued at $96,640,000 after buying an additional 177,545 shares during the period. Finally, Norges Bank bought a new stake in shares of Allegion PLC during the fourth quarter valued at approximately $41,760,000. 90.69% of the stock is owned by hedge funds and other institutional investors.
Allegion PLC (NYSE ALLE) opened at 80.83 on Tuesday. The stock has a 50 day moving average price of $79.39 and a 200 day moving average price of $73.48. Allegion PLC has a 12-month low of $61.47 and a 12-month high of $82.90. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of 32.74 and a beta of 1.11.
Allegion PLC (NYSE:ALLE) last released its earnings results on Thursday, April 27th. The scientific and technical instruments company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.04. Allegion PLC had a net margin of 10.50% and a return on equity of 234.79%. The firm had revenue of $548.80 million during the quarter, compared to analyst estimates of $536.97 million. During the same period last year, the business earned $0.61 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. On average, analysts expect that Allegion PLC will post $3.73 EPS for the current year.
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ALLE has been the subject of several analyst reports. Zacks Investment Research raised Allegion PLC from a “sell” rating to a “hold” rating in a research note on Thursday, March 23rd. BidaskClub downgraded Allegion PLC from a “buy” rating to a “hold” rating in a research note on Sunday. Robert W. Baird downgraded Allegion PLC from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $80.00 to $85.00 in a research note on Friday, April 28th. Imperial Capital increased their price objective on Allegion PLC from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Wolfe Research initiated coverage on Allegion PLC in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $86.00.
In related news, insider Jeffrey M. Wood sold 4,071 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $79.87, for a total value of $325,150.77. Following the completion of the transaction, the insider now directly owns 1,938 shares in the company, valued at approximately $154,788.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jeffrey N. Braun sold 7,455 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $79.46, for a total transaction of $592,374.30. Following the completion of the transaction, the senior vice president now owns 7,250 shares of the company’s stock, valued at $576,085. The disclosure for this sale can be found here. Insiders have sold 13,384 shares of company stock valued at $1,064,660 over the last quarter. Company insiders own 0.64% of the company’s stock.
About Allegion PLC
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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