Texas Permanent School Fund Has $2.17 Million Stake in Allegion PLC (ALLE)
Texas Permanent School Fund reduced its position in Allegion PLC (NYSE:ALLE) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 26,770 shares of the scientific and technical instruments company’s stock after selling 1,126 shares during the period. Texas Permanent School Fund’s holdings in Allegion PLC were worth $2,172,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Allegion PLC by 3.9% in the first quarter. Vanguard Group Inc. now owns 9,120,260 shares of the scientific and technical instruments company’s stock worth $690,404,000 after buying an additional 338,508 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Allegion PLC by 5,286.4% in the first quarter. BlackRock Inc. now owns 5,209,003 shares of the scientific and technical instruments company’s stock worth $394,319,000 after buying an additional 5,112,297 shares in the last quarter. State Street Corp boosted its stake in shares of Allegion PLC by 11.9% in the first quarter. State Street Corp now owns 5,061,071 shares of the scientific and technical instruments company’s stock worth $383,121,000 after buying an additional 538,262 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Allegion PLC by 22.9% in the first quarter. American Century Companies Inc. now owns 1,886,732 shares of the scientific and technical instruments company’s stock worth $142,826,000 after buying an additional 350,948 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Allegion PLC by 42.9% in the second quarter. Bessemer Group Inc. now owns 1,335,017 shares of the scientific and technical instruments company’s stock worth $108,297,000 after buying an additional 400,516 shares in the last quarter. 92.88% of the stock is owned by institutional investors.
Allegion PLC (ALLE) opened at 78.92 on Friday. The stock has a 50 day moving average price of $80.90 and a 200-day moving average price of $76.58. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 30.53 and a beta of 1.10. Allegion PLC has a 1-year low of $61.47 and a 1-year high of $82.90.
Allegion PLC (NYSE:ALLE) last posted its quarterly earnings data on Thursday, July 27th. The scientific and technical instruments company reported $1.11 EPS for the quarter, topping 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 company had revenue of $627 million during the quarter, compared to the consensus estimate of $613.37 million. During the same period in the prior year, the business posted $0.99 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts predict that Allegion PLC will post $3.78 earnings per share for the current year.
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A number of analysts have weighed in on ALLE shares. Imperial Capital boosted their price target on Allegion PLC from $79.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Zacks Investment Research cut Allegion PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. BidaskClub raised Allegion PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Wolfe Research started coverage on Allegion PLC in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. Finally, Robert W. Baird lowered Allegion PLC from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $80.00 to $85.00 in a research note on Friday, April 28th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Allegion PLC presently has a consensus rating of “Buy” and a consensus target price of $86.00.
In related news, insider Timothy P. Eckersley sold 12,782 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $81.14, for a total value of $1,037,131.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd V. Graves sold 1,858 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $79.19, for a total transaction of $147,135.02. Following the completion of the sale, the insider now owns 12,084 shares of the company’s stock, valued at $956,931.96. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.
Allegion PLC Company 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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