Great Lakes Advisors LLC Sells 12,152 Shares of Allegion PLC (NYSE:ALLE)

Great Lakes Advisors LLC lowered its position in shares of Allegion PLC (NYSE:ALLE) by 6.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 190,229 shares of the scientific and technical instruments company’s stock after selling 12,152 shares during the period. Great Lakes Advisors LLC owned about 0.20% of Allegion worth $19,717,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Carlson Capital L P bought a new stake in Allegion during the 2nd quarter worth $26,922,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Allegion by 6.6% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 78,122 shares of the scientific and technical instruments company’s stock worth $8,497,000 after buying an additional 4,852 shares during the period. BlackRock Inc. lifted its holdings in Allegion by 10.8% during the 2nd quarter. BlackRock Inc. now owns 8,406,547 shares of the scientific and technical instruments company’s stock worth $929,344,000 after buying an additional 821,079 shares during the period. Gamco Investors INC. ET AL acquired a new position in Allegion during the 2nd quarter worth about $236,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in Allegion by 28.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 20,150 shares of the scientific and technical instruments company’s stock worth $2,228,000 after buying an additional 4,460 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

ALLE has been the topic of several recent research reports. Bank of America set a $125.00 target price on Allegion and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays reaffirmed a “buy” rating and set a $120.00 target price on shares of Allegion in a report on Friday, October 25th. ValuEngine downgraded Allegion from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Co lifted their target price on Allegion from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Zacks Investment Research raised Allegion from a “sell” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Allegion presently has an average rating of “Hold” and an average price target of $114.63.

Shares of NYSE:ALLE traded up $1.98 during midday trading on Wednesday, reaching $116.68. The company’s stock had a trading volume of 24,082 shares, compared to its average volume of 725,641. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 2.05 and a beta of 1.17. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.30 and a current ratio of 1.90. The firm has a 50 day moving average price of $107.55 and a two-hundred day moving average price of $103.42. Allegion PLC has a fifty-two week low of $74.83 and a fifty-two week high of $119.39.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.14. The company had revenue of $748.30 million for the quarter, compared to the consensus estimate of $737.64 million. Allegion had a return on equity of 69.28% and a net margin of 16.00%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. As a group, research analysts anticipate that Allegion PLC will post 4.89 earnings per share for the current year.

In other news, SVP Tracy L. Kemp sold 17,860 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $115.84, for a total value of $2,068,902.40. Following the transaction, the senior vice president now directly owns 14,770 shares of the company’s stock, valued at approximately $1,710,956.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patrick S. Shannon sold 20,421 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $115.43, for a total value of $2,357,196.03. The disclosure for this sale can be found here. Insiders sold a total of 50,645 shares of company stock worth $5,862,284 over the last three months. 0.77% of the stock is owned by company insiders.

About Allegion

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

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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