California Public Employees Retirement System Sells 14,958 Shares of Allegion plc (NYSE:ALLE)

California Public Employees Retirement System decreased its position in Allegion plc (NYSE:ALLE) by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,761 shares of the scientific and technical instruments company’s stock after selling 14,958 shares during the quarter. California Public Employees Retirement System owned approximately 0.15% of Allegion worth $17,480,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ALLE. Millstone Evans Group LLC bought a new stake in Allegion in the 4th quarter worth about $28,000. Atala Financial Inc bought a new position in shares of Allegion in the fourth quarter valued at approximately $35,000. Private Trust Co. NA increased its position in shares of Allegion by 56.1% during the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 115 shares during the last quarter. Tortoise Investment Management LLC lifted its holdings in Allegion by 78.0% during the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock worth $51,000 after acquiring an additional 170 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Allegion by 33.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock worth $53,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the sale, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the transaction, the senior vice president now directly owns 10,273 shares in the company, valued at $1,302,000.02. The trade was a 16.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,224 shares of company stock worth $406,636. Corporate insiders own 0.33% of the company’s stock.

Allegion Stock Performance

NYSE:ALLE opened at $123.53 on Friday. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The business’s fifty day moving average is $129.10 and its 200 day moving average is $135.89. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 3.97 and a beta of 1.01.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The firm had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. Research analysts predict that Allegion plc will post 7.77 EPS for the current year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 1.65%. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio is presently 29.91%.

Analysts Set New Price Targets

ALLE has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Barclays dropped their target price on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 26th. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Robert W. Baird dropped their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, Morgan Stanley raised their target price on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $137.67.

Allegion Profile

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