Allegion plc (NYSE:ALLE) Stock Holdings Lessened by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its holdings in Allegion plc (NYSE:ALLE) by 7.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,070 shares of the scientific and technical instruments company’s stock after selling 519 shares during the quarter. Kentucky Retirement Systems’ holdings in Allegion were worth $885,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. lifted its position in Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 72 shares during the last quarter. Crewe Advisors LLC lifted its position in Allegion by 160.2% in the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Concord Wealth Partners bought a new stake in Allegion in the 3rd quarter valued at about $29,000. Cromwell Holdings LLC lifted its position in Allegion by 65.2% in the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. Finally, Gradient Investments LLC bought a new stake in Allegion in the 2nd quarter valued at about $38,000. 92.21% of the stock is currently owned by institutional investors.

Allegion Stock Performance

Shares of ALLE opened at $138.13 on Wednesday. The firm’s 50 day moving average is $143.88 and its 200-day moving average is $131.92. The stock has a market capitalization of $12.01 billion, a P/E ratio of 21.32, a P/E/G ratio of 3.33 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. Allegion plc has a 12-month low of $103.19 and a 12-month high of $156.10.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. During the same quarter in the previous year, the company posted $1.94 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, September 20th. Allegion’s payout ratio is 29.49%.

Analysts Set New Price Targets

Several analysts recently weighed in on ALLE shares. Wells Fargo & Company lifted their price objective on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Mizuho raised their target price on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays raised their target price on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. Finally, Robert W. Baird raised their target price on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $144.60.

Insiders Place Their Bets

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the transaction, the senior vice president now directly owns 7,104 shares in the company, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.