Comerica Bank Lowers Holdings in Allegion plc (NYSE:ALLE)

Comerica Bank trimmed its position in Allegion plc (NYSE:ALLEGet Rating) by 5.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 12,037 shares of the scientific and technical instruments company’s stock after selling 744 shares during the quarter. Comerica Bank’s holdings in Allegion were worth $1,355,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. State Street Corp lifted its holdings in shares of Allegion by 7.6% in the 4th quarter. State Street Corp now owns 4,644,285 shares of the scientific and technical instruments company’s stock worth $615,089,000 after buying an additional 327,677 shares during the period. Pictet Asset Management SA lifted its stake in shares of Allegion by 7.1% during the 4th quarter. Pictet Asset Management SA now owns 3,387,485 shares of the scientific and technical instruments company’s stock worth $448,639,000 after purchasing an additional 225,410 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Allegion by 4.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,810,334 shares of the scientific and technical instruments company’s stock worth $372,202,000 after purchasing an additional 128,448 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Allegion by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 1,682,040 shares of the scientific and technical instruments company’s stock worth $222,195,000 after purchasing an additional 24,639 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new stake in shares of Allegion during the 1st quarter worth $168,938,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALLE has been the subject of a number of analyst reports. Barclays decreased their price objective on Allegion from $140.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. TheStreet cut Allegion from a “b-” rating to a “c+” rating in a research note on Tuesday, July 5th. Wells Fargo & Company decreased their price objective on Allegion from $118.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Robert W. Baird decreased their price target on Allegion from $120.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, July 18th. Finally, Bank of America cut Allegion from a “buy” rating to an “underperform” rating and decreased their price target for the company from $130.00 to $110.00 in a research note on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.11.

Insider Activity

In other news, SVP Tracy L. Kemp sold 2,544 shares of the stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $112.55, for a total value of $286,327.20. Following the transaction, the senior vice president now directly owns 10,379 shares of the company’s stock, valued at $1,168,156.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Tracy L. Kemp sold 2,544 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $112.55, for a total transaction of $286,327.20. Following the sale, the senior vice president now directly owns 10,379 shares of the company’s stock, valued at $1,168,156.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jeffrey N. Braun sold 2,186 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $114.02, for a total value of $249,247.72. Following the sale, the senior vice president now directly owns 12,988 shares in the company, valued at $1,480,891.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,926 shares of company stock valued at $1,004,286. Company insiders own 0.79% of the company’s stock.

Allegion Stock Down 0.3 %

Shares of ALLE stock opened at $102.69 on Wednesday. The stock’s 50-day simple moving average is $103.14 and its 200-day simple moving average is $111.22. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.16 and a current ratio of 1.85. The firm has a market capitalization of $9.02 billion, a PE ratio of 19.71, a P/E/G ratio of 2.53 and a beta of 1.05. Allegion plc has a fifty-two week low of $93.05 and a fifty-two week high of $148.70.

Allegion (NYSE:ALLEGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The scientific and technical instruments company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $723.60 million for the quarter, compared to analyst estimates of $709.67 million. Allegion had a return on equity of 57.54% and a net margin of 16.15%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 earnings per share. Equities analysts expect that Allegion plc will post 5.6 earnings per share for the current year.

About Allegion

(Get Rating)

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, 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 and door systems; and other accessories.

See Also

Want to see what other hedge funds are holding ALLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegion plc (NYSE:ALLEGet Rating).

Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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