State Board of Administration of Florida Retirement System lessened its holdings in shares of Allegion plc (NYSE:ALLE) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,378 shares of the scientific and technical instruments company’s stock after selling 1,827 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of Allegion worth $16,629,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Arkadios Wealth Advisors boosted its holdings in shares of Allegion by 310.3% during the 2nd quarter. Arkadios Wealth Advisors now owns 238 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 180 shares in the last quarter. Logan Capital Management Inc. purchased a new position in shares of Allegion during the first quarter valued at approximately $30,000. Eagle Bay Advisors LLC purchased a new position in shares of Allegion during the second quarter valued at approximately $46,000. Maverick Capital Ltd. purchased a new position in shares of Allegion during the first quarter valued at approximately $44,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Allegion by 363.6% during the second quarter. Exchange Traded Concepts LLC now owns 408 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.
Several equities analysts have recently weighed in on ALLE shares. Barclays set a $138.67 price target on Allegion and gave the company an “overweight” rating in a report on Friday, July 23rd. Credit Suisse Group increased their price target on shares of Allegion from $143.00 to $144.00 and gave the company a “neutral” rating in a report on Friday, July 23rd. Zacks Investment Research upgraded shares of Allegion from a “hold” rating to a “buy” rating and set a $149.00 price target on the stock in a report on Monday, August 30th. The Goldman Sachs Group upgraded shares of Allegion from a “neutral” rating to a “buy” rating and increased their price target for the company from $158.00 to $174.00 in a report on Friday, September 10th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Allegion in a report on Thursday, July 29th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $147.45.
Allegion (NYSE:ALLE) last issued its quarterly earnings data on Wednesday, July 21st. The scientific and technical instruments company reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.03. Allegion had a return on equity of 65.52% and a net margin of 16.12%. The company had revenue of $746.90 million during the quarter, compared to analyst estimates of $711.94 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. Allegion’s revenue was up 26.7% compared to the same quarter last year. Analysts expect that Allegion plc will post 5.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Thursday, September 16th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, September 15th. This represents a $1.44 dividend on an annualized basis and a yield of 1.04%. Allegion’s dividend payout ratio is currently 28.18%.
In related news, CEO David D. Petratis sold 2,841 shares of the firm’s stock in a transaction on Monday, July 26th. The stock was sold at an average price of $139.28, for a total value of $395,694.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 8,523 shares of company stock worth $1,193,078. 0.67% of the stock is owned by insiders.
Allegion Plc provides security products and solutions that keep people safe, secure and productiv. It operates through the following three geographic segments: Americas; Middle East, India, and Africa (EMEIA); and Asia Pacific. The Americas segment sells a range of products and solutions such locks, locksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products, and access control and time and attendance systems.
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