Allegion PLC (ALLE) Holdings Cut by Rhumbline Advisers

Rhumbline Advisers lessened its position in Allegion PLC (NYSE:ALLE) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,149 shares of the scientific and technical instruments company’s stock after selling 3,952 shares during the quarter. Rhumbline Advisers owned about 0.18% of Allegion worth $15,501,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALLE. Schroder Investment Management Group increased its stake in Allegion by 39.4% during the second quarter. Schroder Investment Management Group now owns 349,600 shares of the scientific and technical instruments company’s stock worth $26,982,000 after acquiring an additional 98,800 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Allegion by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 455,327 shares of the scientific and technical instruments company’s stock worth $35,224,000 after acquiring an additional 27,490 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Allegion by 9.6% during the third quarter. Handelsbanken Fonder AB now owns 846,970 shares of the scientific and technical instruments company’s stock worth $76,710,000 after acquiring an additional 74,060 shares during the last quarter. Captrust Financial Advisors increased its stake in Allegion by 39.6% during the second quarter. Captrust Financial Advisors now owns 9,395 shares of the scientific and technical instruments company’s stock worth $727,000 after acquiring an additional 2,665 shares during the last quarter. Finally, Swiss National Bank increased its stake in Allegion by 3.6% during the second quarter. Swiss National Bank now owns 314,400 shares of the scientific and technical instruments company’s stock worth $24,322,000 after acquiring an additional 10,800 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

ALLE has been the subject of a number of research reports. Zacks Investment Research raised Allegion from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Monday, October 29th. Morgan Stanley initiated coverage on Allegion in a research note on Monday, August 20th. They issued an “equal weight” rating and a $88.00 price objective for the company. Wells Fargo & Co lifted their price objective on Allegion from $96.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 26th. Finally, Credit Suisse Group initiated coverage on Allegion in a research note on Friday, October 12th. They issued an “outperform” rating and a $96.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Allegion has an average rating of “Buy” and an average price target of $95.50.

In related news, insider Douglas P. Ranck sold 3,200 shares of Allegion stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $89.78, for a total value of $287,296.00. Following the completion of the transaction, the insider now directly owns 10,348 shares in the company, valued at $929,043.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.75% of the company’s stock.

NYSE:ALLE opened at $89.11 on Monday. The firm has a market capitalization of $8.47 billion, a P/E ratio of 22.50, a P/E/G ratio of 1.55 and a beta of 1.05. Allegion PLC has a 12-month low of $73.85 and a 12-month high of $92.87. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 2.37.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 25th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.02. The firm had revenue of $711.50 million during the quarter, compared to analyst estimates of $699.07 million. Allegion had a return on equity of 85.03% and a net margin of 11.75%. Equities research analysts predict that Allegion PLC will post 4.49 earnings per share for the current year.

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Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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