Pinebridge Investments L.P. Trims Stake in Allegion PLC (ALLE)
Pinebridge Investments L.P. reduced its stake in shares of Allegion PLC (NYSE:ALLE) by 2.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 119,238 shares of the scientific and technical instruments company’s stock after selling 2,791 shares during the period. Pinebridge Investments L.P. owned about 0.13% of Allegion PLC worth $9,673,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of Allegion PLC during the 2nd quarter valued at approximately $668,000. UBS Asset Management Americas Inc. grew its position in shares of Allegion PLC by 1,505.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,397,478 shares of the scientific and technical instruments company’s stock valued at $113,363,000 after acquiring an additional 1,310,457 shares during the period. Acrospire Investment Management LLC grew its position in shares of Allegion PLC by 75.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the scientific and technical instruments company’s stock valued at $114,000 after acquiring an additional 600 shares during the period. Artisan Partners Limited Partnership grew its position in shares of Allegion PLC by 44.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,873,307 shares of the scientific and technical instruments company’s stock valued at $151,963,000 after acquiring an additional 579,517 shares during the period. Finally, Kempen Capital Management N.V. bought a new position in shares of Allegion PLC during the 2nd quarter valued at approximately $3,018,000. 89.86% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on ALLE. Zacks Investment Research downgraded shares of Allegion PLC from a “buy” rating to a “hold” rating in a research report on Monday, June 12th. Robert W. Baird set a $85.00 target price on shares of Allegion PLC and gave the company a “hold” rating in a research report on Thursday, August 24th. BidaskClub raised shares of Allegion PLC from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, Wolfe Research began coverage on shares of Allegion PLC in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Allegion PLC currently has a consensus rating of “Buy” and a consensus price target of $86.00.
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In other Allegion PLC news, insider Timothy P. Eckersley sold 12,782 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.64% of the stock is currently owned by corporate insiders.
Allegion PLC (NYSE:ALLE) traded down 0.07% on Wednesday, reaching $82.79. 113,499 shares of the company traded hands. Allegion PLC has a 1-year low of $61.47 and a 1-year high of $83.28. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 32.03 and a beta of 1.10. The stock’s 50-day moving average is $79.89 and its 200-day moving average is $78.54.
Allegion PLC (NYSE:ALLE) last announced its earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.11. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The business had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $613.37 million. During the same period in the prior year, the company earned $0.99 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Equities research analysts expect that Allegion PLC will post $3.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 18th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, September 15th. This represents a $0.64 dividend on an annualized basis and a yield of 0.77%. Allegion PLC’s dividend payout ratio is currently 24.62%.
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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