Seven Eight Capital LP lifted its stake in Allegion PLC (NYSE:ALLE) by 223.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,800 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,700 shares during the period. Seven Eight Capital LP’s holdings in Allegion PLC were worth $552,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. NorthCoast Asset Management LLC lifted its position in Allegion PLC by 6.2% in the second quarter. NorthCoast Asset Management LLC now owns 25,984 shares of the scientific and technical instruments company’s stock worth $2,108,000 after purchasing an additional 1,525 shares during the period. Alliancebernstein L.P. lifted its position in Allegion PLC by 92.2% in the second quarter. Alliancebernstein L.P. now owns 1,645,398 shares of the scientific and technical instruments company’s stock worth $133,475,000 after purchasing an additional 789,183 shares during the period. Engineers Gate Manager LP lifted its position in Allegion PLC by 77.1% in the second quarter. Engineers Gate Manager LP now owns 23,773 shares of the scientific and technical instruments company’s stock worth $1,928,000 after purchasing an additional 10,348 shares during the period. Tredje AP fonden bought a new position in Allegion PLC in the second quarter worth $105,000. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in Allegion PLC by 37.7% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 312,488 shares of the scientific and technical instruments company’s stock worth $25,349,000 after purchasing an additional 85,628 shares during the period. Institutional investors and hedge funds own 89.86% of the company’s stock.
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Several brokerages recently commented on ALLE. Zacks Investment Research cut Allegion PLC from a “buy” rating to a “hold” rating in a research report on Monday, June 12th. Robert W. Baird set a $85.00 target price on Allegion PLC and gave the stock a “hold” rating in a research report on Thursday, August 24th. BidaskClub raised Allegion PLC from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, Wolfe Research began coverage on Allegion PLC in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $86.00.
In other news, insider Timothy P. Eckersley sold 12,782 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $81.14, for a total transaction of $1,037,131.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.64% of the company’s stock.
Allegion PLC (NYSE ALLE) opened at 82.77 on Friday. Allegion PLC has a one year low of $61.47 and a one year high of $82.97. The company has a market capitalization of $7.86 billion, a PE ratio of 32.02 and a beta of 1.10. The firm’s 50 day moving average price is $79.81 and its 200-day moving average price is $78.34.
Allegion PLC (NYSE:ALLE) last issued its quarterly earnings data on Thursday, July 27th. The scientific and technical instruments company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The firm had revenue of $627.00 million for the quarter, compared to analyst estimates of $613.37 million. During the same period in the prior year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts forecast that Allegion PLC will post $3.78 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, September 15th. Allegion PLC’s dividend payout ratio (DPR) is currently 24.62%.
About Allegion PLC
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. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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