State of New Jersey Common Pension Fund D Sells 13,890 Shares of Allegion plc (NYSE:ALLE)

State of New Jersey Common Pension Fund D lowered its position in Allegion plc (NYSE:ALLE) by 32.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 29,012 shares of the scientific and technical instruments company’s stock after selling 13,890 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Allegion were worth $3,428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ALLE. Norges Bank bought a new position in shares of Allegion during the 4th quarter valued at about $110,740,000. APG Asset Management US Inc. bought a new position in shares of Allegion during the 4th quarter valued at about $66,449,000. Hawk Ridge Capital Management LP boosted 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 purchasing an additional 202,774 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Allegion during the 4th quarter valued at about $16,902,000. Finally, Morningstar Investment Services LLC boosted its holdings in shares of Allegion by 107.6% during the 4th quarter. Morningstar Investment Services LLC now owns 218,489 shares of the scientific and technical instruments company’s stock valued at $27,717,000 after purchasing an additional 113,227 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Up 0.5 %

Shares of NYSE ALLE opened at $143.37 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. The company has a market cap of $12.54 billion, a P/E ratio of 23.39, a PEG ratio of 4.21 and a beta of 1.12. Allegion plc has a 1 year low of $95.94 and a 1 year high of $144.49. The firm has a 50-day simple moving average of $132.54 and a two-hundred day simple moving average of $127.33.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, topping 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 net margin of 15.08% and a return on equity of 47.21%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.76 earnings per share. Research analysts anticipate that Allegion plc will post 7.26 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, September 20th. Allegion’s payout ratio is currently 31.32%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Wells Fargo & Company lifted their price target on Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Barclays lifted their price target on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, 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.