VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 23,900 Shares of Allegion PLC $ALLE

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Allegion PLC (NYSE:ALLE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 23,900 shares of the scientific and technical instruments company’s stock, valued at approximately $3,675,000.

A number of other large investors have also recently bought and sold shares of ALLE. Evergreen Capital Management LLC acquired a new stake in Allegion in the third quarter worth $3,023,000. MassMutual Private Wealth & Trust FSB increased its stake in Allegion by 5,141.6% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 11,846 shares of the scientific and technical instruments company’s stock valued at $1,822,000 after purchasing an additional 11,620 shares in the last quarter. Andra AP fonden lifted its stake in shares of Allegion by 382.8% in the second quarter. Andra AP fonden now owns 69,945 shares of the scientific and technical instruments company’s stock valued at $9,827,000 after buying an additional 55,459 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Allegion by 1,653.5% during the third quarter. GAMMA Investing LLC now owns 33,018 shares of the scientific and technical instruments company’s stock valued at $5,077,000 after buying an additional 31,135 shares during the last quarter. Finally, Regents Gate Capital LLP increased its position in shares of Allegion by 291.7% during the first quarter. Regents Gate Capital LLP now owns 165,622 shares of the scientific and technical instruments company’s stock worth $24,063,000 after acquiring an additional 123,343 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALLE has been the subject of a number of recent research reports. Robert W. Baird set a $196.00 price objective on Allegion in a report on Friday, October 23rd. Evercore reiterated an “outperform” rating and set a $180.00 price target on shares of Allegion in a report on Tuesday, September 22nd. Weiss Ratings raised Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Mizuho set a $180.00 target price on Allegion in a research report on Friday, October 23rd. Finally, Morgan Stanley set a $170.00 price target on shares of Allegion in a report on Monday, October 26th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.60.

Insiders Place Their Bets

In related news, SVP Tracy L. Kemp sold 4,469 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $178.81, for a total transaction of $799,101.89. Following the completion of the transaction, the senior vice president owned 11,358 shares in the company, valued at $2,030,923.98. The trade was a 28.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Timothy Eckersley sold 6,364 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $178.62, for a total value of $1,136,737.68. Following the completion of the transaction, the senior vice president directly owned 22,028 shares in the company, valued at $3,934,641.36. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 11,833 shares of company stock valued at $2,104,090. 0.64% of the stock is owned by company insiders.

Allegion Stock Up 0.1%

ALLE opened at $186.58 on Monday. The company has a fifty day moving average price of $158.50 and a 200-day moving average price of $150.81. The firm has a market capitalization of $15.73 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24. Allegion PLC has a one year low of $125.00 and a one year high of $189.59.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.10. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.14 billion. Allegion had a net margin of 15.74% and a return on equity of 35.52%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.30 EPS. Equities research analysts expect that Allegion PLC will post 9.10 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $0.55 per share. The ex-dividend date was Tuesday, September 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.2%. Allegion’s payout ratio is 27.40%.

Allegion Profile

Allegion plc (NYSE:ALLE) is a global security products and solutions company focused on protecting people and property. Its portfolio includes mechanical and electronic locks, access control systems, door closers, exit devices, door controls, and commercial doors and frames.

The company serves commercial, institutional, industrial, and residential customers through well-known brands including Schlage, Von Duprin, LCN, Steelcraft, Briton, and aptiQ. Its offerings range from traditional hardware to connected and electronic access solutions designed for offices, schools, healthcare facilities, multifamily properties, and homes.

Allegion was established as an independent public company in 2013 following its separation from Ingersoll Rand.