Texas Permanent School Fund Has $1.80 Million Stock Position in Allegion PLC (NYSE:ALLE)

Texas Permanent School Fund trimmed its stake in shares of Allegion PLC (NYSE:ALLE) by 4.0% during the third quarter, Holdings Channel reports. The firm owned 17,394 shares of the scientific and technical instruments company’s stock after selling 724 shares during the period. Texas Permanent School Fund’s holdings in Allegion were worth $1,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. boosted its holdings in Allegion by 19.1% during the third quarter. Oppenheimer & Co. Inc. now owns 3,535 shares of the scientific and technical instruments company’s stock valued at $366,000 after purchasing an additional 568 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Allegion by 22.4% during the third quarter. California Public Employees Retirement System now owns 232,646 shares of the scientific and technical instruments company’s stock valued at $24,114,000 after purchasing an additional 42,574 shares in the last quarter. Usca Ria LLC acquired a new stake in Allegion during the third quarter valued at approximately $65,000. Hussman Strategic Advisors Inc. boosted its holdings in Allegion by 1.7% during the third quarter. Hussman Strategic Advisors Inc. now owns 30,500 shares of the scientific and technical instruments company’s stock valued at $3,161,000 after purchasing an additional 500 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Allegion by 3.8% during the third quarter. Commonwealth Equity Services LLC now owns 5,359 shares of the scientific and technical instruments company’s stock valued at $555,000 after purchasing an additional 197 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

NYSE:ALLE opened at $115.65 on Friday. Allegion PLC has a 1 year low of $74.83 and a 1 year high of $119.39. The firm has a 50 day moving average of $106.73 and a 200-day moving average of $103.11. The company has a current ratio of 1.90, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $10.88 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 2.07 and a beta of 1.17.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.14. Allegion had a net margin of 16.00% and a return on equity of 69.28%. The company had revenue of $748.30 million during the quarter, compared to analysts’ expectations of $737.64 million. During the same quarter in the previous year, the company posted $1.23 earnings per share. Allegion’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts forecast that Allegion PLC will post 4.89 EPS for the current fiscal year.

In other news, VP Timothy P. Eckersley sold 2,364 shares of Allegion stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $116.28, for a total value of $274,885.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tracy L. Kemp sold 17,860 shares of Allegion stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $115.84, for a total transaction of $2,068,902.40. Following the completion of the transaction, the senior vice president now owns 14,770 shares of the company’s stock, valued at approximately $1,710,956.80. The disclosure for this sale can be found here. Insiders sold 50,645 shares of company stock valued at $5,862,284 in the last quarter. 0.77% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on the company. Imperial Capital lifted their price objective on Allegion from $105.00 to $116.00 and gave the company an “in-line” rating in a report on Monday, October 28th. They noted that the move was a valuation call. Zacks Investment Research raised Allegion from a “sell” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Monday, October 28th. Wells Fargo & Co lifted their price objective on Allegion from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Bank of America set a $125.00 price objective on Allegion and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Barclays reaffirmed a “buy” rating and set a $120.00 price objective on shares of Allegion in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $114.63.

Allegion Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile 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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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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