Everence Capital Management Inc. Takes $247,000 Position in Allegion PLC (ALLE)
Everence Capital Management Inc. purchased a new position in Allegion PLC (NYSE:ALLE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,860 shares of the scientific and technical instruments company’s stock, valued at approximately $247,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ALLE. UBS Asset Management Americas Inc. raised its position in Allegion PLC by 1,505.9% in the second quarter. UBS Asset Management Americas Inc. now owns 1,397,478 shares of the scientific and technical instruments company’s stock worth $113,363,000 after acquiring an additional 1,310,457 shares during the period. Egerton Capital UK LLP bought a new position in Allegion PLC in the second quarter worth approximately $102,557,000. Alliancebernstein L.P. raised its position in Allegion PLC by 92.2% in the second quarter. Alliancebernstein L.P. now owns 1,645,398 shares of the scientific and technical instruments company’s stock worth $133,475,000 after acquiring an additional 789,183 shares during the period. BlackRock Inc. raised its position in Allegion PLC by 14.3% in the second quarter. BlackRock Inc. now owns 5,955,519 shares of the scientific and technical instruments company’s stock worth $483,111,000 after acquiring an additional 746,516 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in Allegion PLC by 44.8% in the second quarter. Artisan Partners Limited Partnership now owns 1,873,307 shares of the scientific and technical instruments company’s stock worth $151,963,000 after acquiring an additional 579,517 shares during the period. Institutional investors and hedge funds own 90.06% of the company’s stock.
In other Allegion PLC news, insider Timothy P. Eckersley sold 12,782 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $81.14, for a total transaction of $1,037,131.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.64% of the company’s stock.
Allegion PLC (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.02. The company had revenue of $609.40 million during the quarter, compared to analysts’ expectations of $622.18 million. Allegion PLC had a net margin of 14.37% and a return on equity of 154.50%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 earnings per share.
ALLE has been the topic of several recent research reports. Robert W. Baird set a $85.00 price target on shares of Allegion PLC and gave the stock a “hold” rating in a research report on Thursday, August 24th. Wolfe Research initiated coverage on shares of Allegion PLC in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. BidaskClub upgraded shares of Allegion PLC from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $100.00 price target (up from $90.00) on shares of Allegion PLC in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Allegion PLC currently has an average rating of “Buy” and a consensus price target of $89.75.
Allegion PLC Profile
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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