Virginia Retirement Systems ET AL purchased a new stake in Allegion PLC (NYSE:ALLE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,500 shares of the company’s stock, valued at approximately $1,979,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Westend Capital Management LLC bought a new position in Allegion PLC during the first quarter valued at about $151,000. Societe Generale bought a new position in Allegion PLC during the second quarter valued at about $221,000. SG Americas Securities LLC raised its position in Allegion PLC by 63.5% in the second quarter. SG Americas Securities LLC now owns 3,188 shares of the company’s stock valued at $221,000 after buying an additional 1,238 shares in the last quarter. Boys Arnold & Co. Inc. bought a new position in Allegion PLC during the second quarter valued at about $310,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Allegion PLC during the first quarter valued at about $326,000. Institutional investors and hedge funds own 90.34% of the company’s stock.
Shares of Allegion PLC (NYSE:ALLE) opened at 68.67 on Monday. The firm has a market cap of $6.59 billion, a P/E ratio of 33.71 and a beta of 1.03. The firm has a 50 day moving average price of $70.30 and a 200 day moving average price of $67.85. Allegion PLC has a 1-year low of $52.95 and a 1-year high of $73.49.
Allegion PLC (NYSE:ALLE) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.09. The company earned $584.90 million during the quarter, compared to the consensus estimate of $574.13 million. Allegion PLC had a net margin of 9.06% and a return on equity of 476.64%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. Analysts anticipate that Allegion PLC will post $3.39 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.70%. Allegion PLC’s dividend payout ratio (DPR) is presently 23.53%.
ALLE has been the topic of several recent research reports. Goldman Sachs Group Inc. initiated coverage on Allegion PLC in a research report on Friday, June 10th. They issued a “buy” rating and a $78.00 price target on the stock. Zacks Investment Research upgraded Allegion PLC from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Tuesday, June 28th. Credit Suisse Group AG restated a “buy” rating on shares of Allegion PLC in a research report on Saturday, July 9th. Imperial Capital lowered Allegion PLC from an “outperform” rating to an “in-line” rating and raised their price target for the stock from $71.00 to $79.00 in a research report on Tuesday, August 2nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Allegion PLC in a report on Monday, June 27th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $74.86.
In related news, insider Feng William Yu sold 21,535 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $72.80, for a total value of $1,567,748.00. Following the completion of the sale, the insider now directly owns 53,539 shares in the company, valued at $3,897,639.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas P. Ranck sold 9,300 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $72.90, for a total value of $677,970.00. Following the completion of the sale, the insider now owns 11,544 shares of the company’s stock, valued at $841,557.60. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.
Allegion PLC Company Profile
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. It operates through three segments: Americas; Europe, the Middle East, India and Africa (EMEIA), and Asia Pacific. The Company’s products include door closers and controls, electronic security products, exit devices, time, attendance and workforce productivity systems, door and door frames (steel), electronic and biometric access control systems, locks, locksets and key systems, and other accessories.
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