Kentucky Retirement Systems Decreases Stake in Allegion plc (NYSE:ALLE)

Kentucky Retirement Systems cut its holdings in Allegion plc (NYSE:ALLE) by 5.1% during the first quarter, Holdings Channel reports. The institutional investor owned 6,667 shares of the scientific and technical instruments company’s stock after selling 357 shares during the quarter. Kentucky Retirement Systems’ holdings in Allegion were worth $898,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ALLE. Massachusetts Financial Services Co. MA purchased a new stake in shares of Allegion in the fourth quarter valued at approximately $120,959,000. Norges Bank purchased a new stake in Allegion during the fourth quarter worth $110,740,000. APG Asset Management US Inc. purchased a new stake in Allegion during the fourth quarter worth $66,449,000. Brown Advisory Inc. boosted its position in Allegion by 33.0% during the fourth quarter. Brown Advisory Inc. now owns 1,895,352 shares of the scientific and technical instruments company’s stock worth $240,122,000 after purchasing an additional 470,104 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Allegion by 15.9% during the fourth quarter. Van ECK Associates Corp now owns 3,215,649 shares of the scientific and technical instruments company’s stock worth $407,391,000 after purchasing an additional 441,882 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allegion

In other news, SVP Tracy L. Kemp sold 2,194 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total value of $267,624.12. Following the completion of the sale, the senior vice president now owns 11,103 shares of the company’s stock, valued at $1,354,343.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by company insiders.

Allegion Trading Up 0.9 %

Allegion stock traded up $1.22 during trading on Monday, hitting $137.99. The company’s stock had a trading volume of 226,101 shares, compared to its average volume of 701,969. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 4.22 and a beta of 1.13. The stock’s fifty day moving average is $120.26 and its 200 day moving average is $125.26. Allegion plc has a 1-year low of $95.94 and a 1-year high of $138.39. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66.

Allegion (NYSE:ALLE) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm had revenue of $965.60 million during the quarter, compared to analyst estimates of $953.63 million. During the same period in the prior year, the firm posted $1.76 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts predict that Allegion plc will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

ALLE has been the topic of a number of research analyst reports. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays boosted their target price on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research report on Thursday. UBS Group boosted their target price on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company boosted their price target on Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average 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.