Allegion PLC $ALLE Stock Position Boosted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in shares of Allegion PLC (NYSE:ALLE) by 777.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,250 shares of the scientific and technical instruments company’s stock after acquiring an additional 34,775 shares during the period. Maryland State Retirement & Pension System’s holdings in Allegion were worth $6,035,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in shares of Allegion by 30,063.6% in the 3rd quarter. International Assets Investment Management LLC now owns 869,012 shares of the scientific and technical instruments company’s stock valued at $133,628,000 after purchasing an additional 866,131 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Allegion by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company’s stock worth $123,952,000 after purchasing an additional 13,186 shares during the period. Hawk Ridge Capital Management LP raised its position in Allegion by 32.9% in the 1st quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock worth $116,640,000 after purchasing an additional 198,800 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Allegion by 19.4% in the first quarter. The Manufacturers Life Insurance Company now owns 599,326 shares of the scientific and technical instruments company’s stock worth $87,076,000 after purchasing an additional 97,304 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Allegion by 5.5% in the first quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company’s stock worth $78,766,000 after purchasing an additional 28,449 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Allegion news, SVP Tracy L. Kemp sold 4,469 shares of the firm’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $178.81, for a total transaction of $799,101.89. Following the completion of the transaction, the senior vice president owned 11,358 shares of the company’s stock, valued at approximately $2,030,923.98. This trade represents a 28.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven Mizell bought 170 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were acquired at an average price of $158.28 per share, for a total transaction of $26,907.60. Following the acquisition, the director owned 5,899 shares in the company, valued at approximately $933,693.72. This represents a 2.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.64% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALLE shares. Morgan Stanley raised their price objective on Allegion from $170.00 to $181.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 3rd. Bank of America upgraded Allegion from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $164.00 to $200.00 in a report on Friday, October 23rd. Robert W. Baird set a $196.00 target price on Allegion in a research note on Friday, October 23rd. Mizuho set a $180.00 target price on Allegion in a report on Friday, October 23rd. Finally, Weiss Ratings upgraded Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $180.70.

Allegion Stock Performance

Shares of ALLE opened at $190.16 on Friday. The company has a 50-day simple moving average of $164.15 and a two-hundred day simple moving average of $151.95. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24. The firm has a market capitalization of $16.03 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 2.15 and a beta of 0.82. Allegion PLC has a one year low of $125.00 and a one year high of $195.42.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.10. Allegion had a return on equity of 35.52% and a net margin of 15.74%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned $2.30 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts anticipate that Allegion PLC will post 9.10 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Allegion’s dividend payout ratio is presently 27.40%.

Allegion Profile

Allegion plc is a global provider of security products and solutions for homes, businesses, schools, hospitals and other institutions. Its offerings include mechanical and electronic locks, access-control systems, door closers, exit devices and related door hardware. The company sells products under brands including Schlage, Von Duprin, LCN and CISA. Its solutions are used in both commercial and residential settings, with operations serving customers in North America and other markets around the world.