Louisiana State Employees Retirement System Buys New Stake in Allegion plc (NYSE:ALLE)

Louisiana State Employees Retirement System bought a new stake in Allegion plc (NYSE:ALLE) during the 4th quarter, Holdings Channel reports. The institutional investor bought 5,300 shares of the scientific and technical instruments company’s stock, valued at approximately $671,000.

Other large investors have also recently bought and sold shares of the company. Schechter Investment Advisors LLC boosted its stake in shares of Allegion by 3.9% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,554 shares of the scientific and technical instruments company’s stock worth $324,000 after buying an additional 97 shares during the period. Huntington National Bank boosted its stake in shares of Allegion by 19.5% during the third quarter. Huntington National Bank now owns 638 shares of the scientific and technical instruments company’s stock worth $66,000 after buying an additional 104 shares during the period. Allworth Financial LP boosted its stake in shares of Allegion by 11.8% during the fourth quarter. Allworth Financial LP now owns 982 shares of the scientific and technical instruments company’s stock worth $124,000 after buying an additional 104 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of Allegion by 5.4% during the third quarter. iA Global Asset Management Inc. now owns 2,200 shares of the scientific and technical instruments company’s stock worth $229,000 after buying an additional 112 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Allegion by 0.6% during the fourth quarter. Arizona State Retirement System now owns 24,126 shares of the scientific and technical instruments company’s stock worth $3,057,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLE has been the subject of several recent research reports. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Wells Fargo & Company downgraded shares of Allegion from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $139.00 to $140.00 in a research report on Wednesday, February 21st. UBS Group raised their price objective on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Mizuho downgraded shares of Allegion from a “buy” rating to a “neutral” rating and raised their price objective for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Finally, Barclays raised their price objective on shares of Allegion from $121.00 to $122.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Six analysts have rated the stock with 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 a consensus price target of $127.83.

Allegion Stock Down 0.8 %

Shares of ALLE opened at $123.85 on Monday. The firm has a market cap of $10.83 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 4.46 and a beta of 1.14. The company’s fifty day moving average is $130.14 and its two-hundred day moving average is $119.85. Allegion plc has a fifty-two week low of $95.94 and a fifty-two week high of $136.91. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 1.18.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.14. The business had revenue of $893.90 million for the quarter, compared to analyst estimates of $888.27 million. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.58 EPS. Analysts forecast that Allegion plc will post 7.08 earnings per share for the current year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion’s payout ratio is currently 31.32%.

Insider Transactions at Allegion

In related news, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $129.99, for a total transaction of $656,059.53. Following the completion of the sale, the vice president now owns 35,567 shares of the company’s stock, valued at approximately $4,623,354.33. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Timothy P. Eckersley sold 5,047 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the completion of the sale, the vice president now directly owns 35,567 shares of the company’s stock, valued at approximately $4,623,354.33. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robert C. Martens sold 5,391 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total transaction of $716,140.44. Following the sale, the senior vice president now directly owns 7,555 shares of the company’s stock, valued at $1,003,606.20. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.