Teacher Retirement System of Texas Has $27.33 Million Holdings in Allegion PLC $ALLE

Teacher Retirement System of Texas decreased its stake in shares of Allegion PLC (NYSE:ALLE) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,081 shares of the scientific and technical instruments company’s stock after selling 9,229 shares during the period. Teacher Retirement System of Texas’ holdings in Allegion were worth $27,326,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALLE. First Horizon Corp acquired a new position in Allegion in the 3rd quarter worth $26,000. Sound Income Strategies LLC bought a new stake in shares of Allegion in the second quarter valued at about $32,000. CYBER HORNET ETFs LLC acquired a new position in shares of Allegion during the second quarter worth about $33,000. Spire Wealth Management boosted its position in shares of Allegion by 78.0% during the second quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 103 shares during the period. Finally, Root Financial Partners LLC bought a new position in shares of Allegion during the third quarter worth about $42,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Stock Performance

Shares of ALLE stock opened at $167.04 on Friday. The company has a fifty day moving average price of $162.12 and a two-hundred day moving average price of $166.07. Allegion PLC has a one year low of $116.57 and a one year high of $180.68. The stock has a market cap of $14.37 billion, a P/E ratio of 22.60, a P/E/G ratio of 3.05 and a beta of 1.04. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.77 and a quick ratio of 1.11.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.09. Allegion had a net margin of 16.09% and a return on equity of 40.83%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm earned $2.16 EPS. Allegion’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts predict that Allegion PLC will post 7.77 EPS for the current year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, December 16th. Allegion’s payout ratio is 27.60%.

Analyst Upgrades and Downgrades

ALLE has been the topic of several research reports. Robert W. Baird boosted their target price on Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Barclays lowered their price objective on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 7th. Wells Fargo & Company reissued a “positive” rating on shares of Allegion in a research report on Tuesday, December 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $174.25.

Allegion Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.