Arizona State Retirement System Lowers Stock Position in Allegion plc (NYSE:ALLE)

Arizona State Retirement System lessened its stake in Allegion plc (NYSE:ALLE) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,051 shares of the scientific and technical instruments company’s stock after selling 95 shares during the period. Arizona State Retirement System’s holdings in Allegion were worth $2,842,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ALLE. Massachusetts Financial Services Co. MA bought a new stake in shares of Allegion during the 4th quarter worth $120,959,000. Norges Bank bought a new stake in Allegion during the fourth quarter worth about $110,740,000. APG Asset Management US Inc. purchased a new position in shares of Allegion in the 4th quarter worth about $66,449,000. Brown Advisory Inc. increased its position in shares of Allegion by 33.0% during the 4th quarter. Brown Advisory Inc. now owns 1,895,352 shares of the scientific and technical instruments company’s stock valued at $240,122,000 after purchasing an additional 470,104 shares during the last quarter. Finally, Hawk Ridge Capital Management LP raised its holdings in shares of Allegion by 39.8% during the 4th quarter. Hawk Ridge Capital Management LP now owns 712,774 shares of the scientific and technical instruments company’s stock valued at $90,301,000 after buying an additional 202,774 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays upped their target price on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their target price on shares of 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 shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $125.40.

Allegion Stock Performance

NYSE:ALLE opened at $134.60 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. Allegion plc has a fifty-two week low of $95.94 and a fifty-two week high of $141.99. The firm has a market cap of $11.73 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 4.13 and a beta of 1.12. The business has a 50 day moving average price of $129.21 and a 200-day moving average price of $126.80.

Allegion (NYSE:ALLE) last announced its quarterly 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. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The business had revenue of $965.60 million during the quarter, compared to analysts’ expectations of $953.63 million. During the same quarter in the prior year, the company posted $1.76 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts predict that Allegion plc will post 7.26 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a $0.48 dividend. The ex-dividend date is Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.43%. Allegion’s payout ratio 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.