AKO Capital LLP Decreases Position in Allegion PLC (ALLE)
AKO Capital LLP lowered its stake in shares of Allegion PLC (NYSE:ALLE) by 18.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 697,036 shares of the scientific and technical instruments company’s stock after selling 159,621 shares during the period. Allegion PLC accounts for approximately 5.0% of AKO Capital LLP’s investment portfolio, making the stock its 4th largest position. AKO Capital LLP owned about 0.73% of Allegion PLC worth $56,544,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Allegion PLC by 5,286.4% in the first quarter. BlackRock Inc. now owns 5,209,003 shares of the scientific and technical instruments company’s stock valued at $394,319,000 after buying an additional 5,112,297 shares in the last quarter. Egerton Capital UK LLP bought a new position in shares of Allegion PLC during the second quarter valued at $102,557,000. Artisan Partners Limited Partnership boosted its position in shares of Allegion PLC by 223.4% in the first quarter. Artisan Partners Limited Partnership now owns 1,293,790 shares of the scientific and technical instruments company’s stock valued at $97,940,000 after buying an additional 893,759 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Allegion PLC by 131.1% in the first quarter. TIAA CREF Investment Management LLC now owns 1,042,666 shares of the scientific and technical instruments company’s stock valued at $78,930,000 after buying an additional 591,517 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Allegion PLC by 11.9% in the first quarter. State Street Corp now owns 5,061,071 shares of the scientific and technical instruments company’s stock valued at $383,121,000 after buying an additional 538,262 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.
Shares of Allegion PLC (NYSE ALLE) opened at 81.32 on Monday. The stock has a market capitalization of $7.72 billion, a PE ratio of 31.46 and a beta of 1.10. The stock has a 50 day moving average price of $80.93 and a 200-day moving average price of $76.06. Allegion PLC has a 52-week low of $61.47 and a 52-week high of $82.90.
Allegion PLC (NYSE:ALLE) last issued its earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. The business had revenue of $627 million during the quarter, compared to the consensus estimate of $613.37 million. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 EPS. On average, equities research analysts anticipate that Allegion PLC will post $3.78 EPS for the current fiscal year.
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ALLE has been the subject of several recent research reports. Credit Suisse Group reiterated a “buy” rating and set a $89.00 price target on shares of Allegion PLC in a research report on Friday, April 28th. Robert W. Baird cut Allegion PLC from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $80.00 to $85.00 in a research report on Friday, April 28th. Imperial Capital lifted their price target on Allegion PLC from $79.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. Zacks Investment Research cut Allegion PLC from a “buy” rating to a “hold” rating in a research report on Monday, June 12th. Finally, BidaskClub upgraded Allegion PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $86.00.
In other news, insider Todd V. Graves sold 1,858 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $79.19, for a total transaction of $147,135.02. Following the completion of the transaction, the insider now directly owns 12,084 shares of the company’s stock, valued at approximately $956,931.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.64% 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. 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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