Retirement Systems of Alabama Sells 89 Shares of Allegion plc (NYSE:ALLE)

Retirement Systems of Alabama decreased its position in shares of Allegion plc (NYSE:ALLE) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,288 shares of the scientific and technical instruments company’s stock after selling 89 shares during the period. Retirement Systems of Alabama’s holdings in Allegion were worth $2,279,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ALLE. Signaturefd LLC raised its position in shares of Allegion by 20.9% during the 4th quarter. Signaturefd LLC now owns 765 shares of the scientific and technical instruments company’s stock valued at $97,000 after purchasing an additional 132 shares during the period. Kestra Private Wealth Services LLC boosted its stake in shares of Allegion by 61.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 3,589 shares of the scientific and technical instruments company’s stock worth $455,000 after acquiring an additional 1,368 shares during the period. Mission Wealth Management LP grew its position in shares of Allegion by 5.0% during the fourth quarter. Mission Wealth Management LP now owns 8,404 shares of the scientific and technical instruments company’s stock worth $1,065,000 after purchasing an additional 403 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Allegion by 112.7% in the 4th quarter. Victory Capital Management Inc. now owns 68,737 shares of the scientific and technical instruments company’s stock worth $8,708,000 after purchasing an additional 36,414 shares during the period. Finally, New York Life Investment Management LLC raised its position in shares of Allegion by 1.3% during the fourth quarter. New York Life Investment Management LLC now owns 12,919 shares of the scientific and technical instruments company’s stock valued at $1,637,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

Allegion stock opened at $137.21 on Wednesday. The company’s 50-day moving average price is $125.94 and its 200-day moving average price is $126.52. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The company has a market cap of $12.00 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 4.08 and a beta of 1.13. Allegion plc has a twelve month low of $95.94 and a twelve month high of $141.99.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The company had revenue of $965.60 million for the quarter, compared to analysts’ expectations of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.76 earnings per share. On average, equities research analysts forecast that Allegion plc will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ALLE shares. Wells Fargo & Company upped their target price on shares of Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Finally, Barclays lifted their target price on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $125.40.

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.