Retirement Systems of Alabama Cuts Stock Position in Allegion PLC (NYSE:ALLE)

Retirement Systems of Alabama lessened its position in Allegion PLC (NYSE:ALLE) by 0.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 18,681 shares of the scientific and technical instruments company’s stock after selling 139 shares during the quarter. Retirement Systems of Alabama’s holdings in Allegion were worth $2,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ALLE. Millstone Evans Group LLC acquired a new position in Allegion during the 4th quarter worth $28,000. Colonial Trust Co SC grew its stake in Allegion by 192.9% during the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. Atala Financial Inc acquired a new position in shares of Allegion during the 4th quarter worth about $35,000. GeoWealth Management LLC boosted its position in shares of Allegion by 259.3% during the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company’s stock worth $40,000 after acquiring an additional 223 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in shares of Allegion by 56.1% during the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock worth $42,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Down 0.5%

Shares of NYSE ALLE opened at $142.84 on Thursday. The stock has a market cap of $12.29 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 4.04 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.17 and a debt-to-equity ratio of 1.23. Allegion PLC has a 52-week low of $113.27 and a 52-week high of $156.10. The business has a 50-day moving average price of $138.88 and a 200 day moving average price of $132.94.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.18. The firm had revenue of $941.90 million during the quarter, compared to analysts’ expectations of $918.53 million. Allegion had a return on equity of 44.82% and a net margin of 16.28%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.55 EPS. Equities research analysts forecast that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 1.43%. Allegion’s payout ratio is 28.65%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ALLE. Barclays upped their price objective on Allegion from $126.00 to $128.00 and gave the stock an “underweight” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. began coverage on Allegion in a research report on Tuesday. They set an “overweight” rating and a $170.00 price objective for the company. Robert W. Baird upped their price objective on Allegion from $144.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Finally, Wall Street Zen cut Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Allegion presently has an average rating of “Hold” and an average target price of $145.33.

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.