Allegion plc (NYSE:ALLE) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in Allegion plc (NYSE:ALLE - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,761 shares of the scientific and technical instruments company's stock after selling 14,958 shares during the period. California Public Employees Retirement System owned about 0.15% of Allegion worth $17,480,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its stake in shares of Allegion by 0.4% during the third quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company's stock worth $2,871,000 after purchasing an additional 77 shares in the last quarter. Douglass Winthrop Advisors LLC increased its stake in shares of Allegion by 0.4% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company's stock worth $2,911,000 after acquiring an additional 80 shares during the last quarter. Heritage Family Offices LLP grew its stake in shares of Allegion by 3.2% in the 4th quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company's stock valued at $346,000 after buying an additional 82 shares during the period. IFP Advisors Inc lifted its stake in shares of Allegion by 23.2% in the 4th quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company's stock valued at $59,000 after purchasing an additional 85 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in Allegion by 2.8% in the third quarter. Captrust Financial Advisors now owns 3,541 shares of the scientific and technical instruments company's stock valued at $516,000 after buying an additional 96 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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Allegion Stock Up 5.1 %

Shares of ALLE stock traded up $6.03 on Wednesday, reaching $124.55. 1,348,842 shares of the stock were exchanged, compared to its average volume of 805,523. The business's 50 day moving average price is $127.92 and its 200 day moving average price is $135.14. The company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 3.97 and a beta of 1.01. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.11. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The firm had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. As a group, sell-side analysts expect that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.64%. This is a boost from Allegion's previous quarterly dividend of $0.48. The ex-dividend date was Friday, March 14th. Allegion's payout ratio is presently 29.91%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ALLE shares. Morgan Stanley boosted their price target on shares of Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Robert W. Baird dropped their price objective on Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Barclays dropped their price objective on shares of Allegion from $130.00 to $126.00 and set an "underweight" rating for the company in a report on Wednesday, March 26th. Finally, Wells Fargo & Company decreased their target price on Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, Allegion has a consensus rating of "Hold" and an average target price of $137.67.

Insider Activity at Allegion

In other news, SVP Tracy L. Kemp sold 2,032 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the sale, the senior vice president now owns 10,273 shares in the company, valued at approximately $1,302,000.02. This trade represents a 16.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the sale, the chief accounting officer now owns 4,972 shares of the company's stock, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,224 shares of company stock worth $406,636 in the last 90 days. 0.33% of the stock is owned by insiders.

Allegion Company 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.