Allegion plc (NYSE:ALLE) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its position in shares of Allegion plc (NYSE:ALLE) by 1.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,589 shares of the scientific and technical instruments company’s stock after selling 78 shares during the period. Kentucky Retirement Systems’ holdings in Allegion were worth $778,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC raised its stake in shares of Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 149 shares in the last quarter. Covestor Ltd raised its position in Allegion by 255.7% in the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $42,000 after purchasing an additional 225 shares in the last quarter. Gradient Investments LLC purchased a new position in shares of Allegion in the 2nd quarter valued at about $38,000. Larson Financial Group LLC purchased a new stake in shares of Allegion during the first quarter worth approximately $44,000. Finally, Blue Trust Inc. raised its holdings in Allegion by 54.0% in the second quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock valued at $41,000 after acquiring an additional 121 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALLE has been the subject of several analyst reports. Barclays boosted their price target on shares of Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a report on Thursday, July 25th. Wells Fargo & Company increased their target price on Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.40.

Allegion Price Performance

Shares of ALLE opened at $140.40 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. Allegion plc has a 1-year low of $95.94 and a 1-year high of $146.41. The stock has a market cap of $12.28 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 4.21 and a beta of 1.12. The firm has a fifty day moving average price of $133.90 and a 200 day moving average price of $127.63.

Allegion (NYSE:ALLE) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. The business had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.76 EPS. As a group, sell-side analysts anticipate that Allegion plc will post 7.26 EPS for the current year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.37%. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

Allegion Profile

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.