California Public Employees Retirement System Buys 9,500 Shares of Allegion PLC (ALLE)
California Public Employees Retirement System lifted its stake in Allegion PLC (NYSE:ALLE) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,000 shares of the scientific and technical instruments company’s stock after buying an additional 9,500 shares during the period. California Public Employees Retirement System owned approximately 0.22% of Allegion PLC worth $16,873,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. FIL Ltd boosted its position in Allegion PLC by 72.6% in the 2nd quarter. FIL Ltd now owns 227,255 shares of the scientific and technical instruments company’s stock valued at $18,435,000 after buying an additional 95,591 shares during the last quarter. ETRADE Capital Management LLC purchased a new stake in shares of Allegion PLC during the second quarter worth about $285,000. Vanguard Group Inc. increased its position in shares of Allegion PLC by 1.9% during the second quarter. Vanguard Group Inc. now owns 9,295,692 shares of the scientific and technical instruments company’s stock worth $754,067,000 after acquiring an additional 175,432 shares during the last quarter. Northern Trust Corp increased its position in shares of Allegion PLC by 10.3% during the second quarter. Northern Trust Corp now owns 1,052,629 shares of the scientific and technical instruments company’s stock worth $85,389,000 after acquiring an additional 98,109 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Allegion PLC during the second quarter worth about $668,000. 89.86% of the stock is owned by institutional investors.
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Shares of Allegion PLC (NYSE:ALLE) opened at 86.53 on Tuesday. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 33.47 and a beta of 1.13. Allegion PLC has a 52-week low of $61.47 and a 52-week high of $86.95. The company’s 50 day moving average price is $81.00 and its 200 day moving average price is $79.26.
Allegion PLC (NYSE:ALLE) last posted its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.00 by $0.11. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The firm had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $613.37 million. During the same quarter in the prior year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts forecast that Allegion PLC will post $3.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, September 15th. Allegion PLC’s dividend payout ratio is presently 24.62%.
A number of equities research analysts have weighed in on the company. BidaskClub upgraded Allegion PLC from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Zacks Investment Research cut shares of Allegion PLC from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Wolfe Research started coverage on shares of Allegion PLC in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, Robert W. Baird reiterated a “hold” rating on shares of Allegion PLC in a research note on Tuesday, September 26th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $86.00.
In related news, insider Timothy P. Eckersley sold 12,782 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $81.14, for a total value of $1,037,131.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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