State Board of Administration of Florida Retirement System Decreases Holdings in Allegion plc (NYSE:ALLE)

State Board of Administration of Florida Retirement System cut its holdings in Allegion plc (NYSE:ALLE) by 1.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 119,378 shares of the scientific and technical instruments company’s stock after selling 1,827 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Allegion were worth $16,629,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ALLE. Logan Capital Management Inc. acquired a new position in shares of Allegion during the first quarter valued at about $30,000. Arkadios Wealth Advisors boosted its stake in Allegion by 310.3% in the 2nd quarter. Arkadios Wealth Advisors now owns 238 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 180 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in Allegion during the 1st quarter worth approximately $44,000. Eagle Bay Advisors LLC acquired a new position in Allegion during the 2nd quarter valued at approximately $46,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Allegion by 363.6% in the second quarter. Exchange Traded Concepts LLC now owns 408 shares of the scientific and technical instruments company’s stock worth $57,000 after buying an additional 320 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

In other news, CEO David D. Petratis sold 2,841 shares of the firm’s stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $141.29, for a total transaction of $401,404.89. Following the sale, the chief executive officer now directly owns 146,454 shares in the company, valued at approximately $20,692,485.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 8,523 shares of company stock valued at $1,193,078. Insiders own 0.67% of the company’s stock.

A number of research analysts have issued reports on ALLE shares. Robert W. Baird reaffirmed a “hold” rating on shares of Allegion in a report on Thursday, July 29th. Credit Suisse Group raised their price target on shares of Allegion from $143.00 to $144.00 and gave the stock a “neutral” rating in a report on Friday, July 23rd. Barclays set a $138.67 price objective on Allegion and gave the company an “overweight” rating in a report on Friday, July 23rd. Zacks Investment Research raised Allegion from a “hold” rating to a “buy” rating and set a $149.00 price objective on the stock in a report on Monday, August 30th. Finally, Morgan Stanley increased their price objective on Allegion from $149.00 to $151.00 and gave the company an “equal weight” rating in a report on Friday, July 23rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $147.45.

Shares of ALLE stock opened at $138.44 on Friday. The stock has a market cap of $12.42 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 3.76 and a beta of 1.19. The business has a 50-day simple moving average of $139.67 and a 200-day simple moving average of $135.13. The company has a quick ratio of 1.48, a current ratio of 2.03 and a debt-to-equity ratio of 1.82. Allegion plc has a 52-week low of $94.01 and a 52-week high of $148.70.

Allegion (NYSE:ALLE) last posted its earnings results on Wednesday, July 21st. The scientific and technical instruments company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.03. The firm had revenue of $746.90 million during the quarter, compared to analyst estimates of $711.94 million. Allegion had a net margin of 16.12% and a return on equity of 65.52%. The business’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. Sell-side analysts anticipate that Allegion plc will post 5.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Wednesday, September 15th. Allegion’s dividend payout ratio (DPR) is 28.18%.

About Allegion

Allegion Plc provides security products and solutions that keep people safe, secure and productiv. It operates through the following three geographic segments: Americas; Middle East, India, and Africa (EMEIA); and Asia Pacific. The Americas segment sells a range of products and solutions such locks, locksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products, and access control and time and attendance systems.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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