Allegion PLC (ALLE) Stake Increased by Korea Investment CORP
Korea Investment CORP raised its stake in Allegion PLC (NYSE:ALLE) by 4.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 235,997 shares of the scientific and technical instruments company’s stock after buying an additional 10,600 shares during the period. Korea Investment CORP owned 0.25% of Allegion PLC worth $19,144,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of ALLE. Tower Research Capital LLC TRC boosted its stake in shares of Allegion PLC by 210.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,414 shares of the scientific and technical instruments company’s stock valued at $107,000 after buying an additional 959 shares during the period. Creative Planning raised its stake in shares of Allegion PLC by 10.9% in the first quarter. Creative Planning now owns 2,080 shares of the scientific and technical instruments company’s stock valued at $157,000 after buying an additional 205 shares in the last quarter. First Manhattan Co. raised its stake in shares of Allegion PLC by 51.3% in the first quarter. First Manhattan Co. now owns 2,212 shares of the scientific and technical instruments company’s stock valued at $152,000 after buying an additional 750 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Allegion PLC by 2.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,256 shares of the scientific and technical instruments company’s stock valued at $171,000 after buying an additional 59 shares in the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Allegion PLC during the first quarter valued at about $174,000. 92.88% of the stock is owned by institutional investors and hedge funds.
Shares of Allegion PLC (ALLE) opened at 81.32 on Monday. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 31.46 and a beta of 1.10. The company’s 50 day moving average price is $80.93 and its 200 day moving average price is $76.06. Allegion PLC has a one year low of $61.47 and a one year high of $82.90.
Allegion PLC (NYSE:ALLE) last announced its earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.11. The firm had revenue of $627 million during the quarter, compared to analyst estimates of $613.37 million. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS. On average, analysts expect that Allegion PLC will post $3.78 earnings per share for the current fiscal year.
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Several brokerages recently issued reports on ALLE. BidaskClub lowered Allegion PLC from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Wolfe Research began coverage on Allegion PLC in a report on Tuesday, July 11th. They set a “market perform” rating for the company. Zacks Investment Research upgraded Allegion PLC from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Friday, June 30th. Finally, Imperial Capital increased their price objective on Allegion PLC from $79.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $86.00.
In related news, insider Todd V. Graves sold 1,858 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $79.19, for a total value 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 available through the SEC website. 0.64% of the stock is currently owned by corporate insiders.
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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