Westpac Banking Corp cut its stake in Allegion PLC (NYSE:ALLE) by 86.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,574 shares of the scientific and technical instruments company’s stock after selling 54,818 shares during the quarter. Westpac Banking Corp’s holdings in Allegion PLC were worth $696,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Swiss National Bank raised its holdings in Allegion PLC by 119.3% in the 2nd quarter. Swiss National Bank now owns 347,800 shares of the scientific and technical instruments company’s stock valued at $28,214,000 after acquiring an additional 189,206 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in Allegion PLC by 21.1% in the 2nd quarter. Eagle Asset Management Inc. now owns 285,879 shares of the scientific and technical instruments company’s stock valued at $23,190,000 after acquiring an additional 49,841 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Allegion PLC by 4.4% in the 2nd quarter. Principal Financial Group Inc. now owns 161,214 shares of the scientific and technical instruments company’s stock valued at $13,078,000 after acquiring an additional 6,827 shares during the last quarter. Davidson & Garrard Inc. raised its holdings in Allegion PLC by 196.0% in the 2nd quarter. Davidson & Garrard Inc. now owns 8,850 shares of the scientific and technical instruments company’s stock valued at $718,000 after acquiring an additional 5,860 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Allegion PLC by 541.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,591 shares of the scientific and technical instruments company’s stock valued at $1,833,000 after acquiring an additional 19,070 shares during the last quarter. 89.86% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Timothy P. Eckersley sold 12,782 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.14, for a total transaction of $1,037,131.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.64% of the company’s stock.
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Shares of Allegion PLC (NYSE ALLE) opened at 81.00 on Wednesday. Allegion PLC has a one year low of $61.47 and a one year high of $82.90. The firm has a market cap of $7.69 billion, a P/E ratio of 31.33 and a beta of 1.10. The stock’s 50 day moving average is $79.55 and its 200-day moving average is $78.17.
Allegion PLC (NYSE:ALLE) last announced its quarterly earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.11. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. The company had revenue of $627.00 million for the quarter, compared to the consensus estimate of $613.37 million. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts anticipate that Allegion PLC will post $3.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, September 15th. Allegion PLC’s payout ratio is 24.62%.
A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of Allegion PLC from a “buy” rating to a “hold” rating in a report on Monday, June 12th. Robert W. Baird set a $85.00 price objective on shares of Allegion PLC and gave the company a “hold” rating in a report on Thursday, August 24th. BidaskClub upgraded shares of Allegion PLC from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. Finally, Wolfe Research assumed coverage on shares of Allegion PLC in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. Three 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 an average rating of “Buy” and a consensus price target of $86.00.
Allegion PLC 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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