California State Teachers Retirement System Sells 4,746 Shares of Allegion plc (NYSE:ALLE)

California State Teachers Retirement System lowered its holdings in Allegion plc (NYSE:ALLE - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,538 shares of the scientific and technical instruments company's stock after selling 4,746 shares during the quarter. California State Teachers Retirement System owned 0.15% of Allegion worth $17,059,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Crew Capital Management Ltd. raised its stake in shares of Allegion by 224.9% during the 4th quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company's stock worth $759,000 after buying an additional 4,022 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Allegion by 438.6% during the 4th quarter. Renaissance Technologies LLC now owns 267,700 shares of the scientific and technical instruments company's stock worth $34,983,000 after purchasing an additional 218,000 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Allegion by 4.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company's stock worth $26,724,000 after acquiring an additional 8,806 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Allegion by 73.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 18,761 shares of the scientific and technical instruments company's stock worth $2,452,000 after acquiring an additional 7,950 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in Allegion during the 4th quarter worth approximately $4,398,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Allegion Price Performance

Shares of Allegion stock traded down $0.70 during trading on Tuesday, hitting $138.71. The stock had a trading volume of 627,637 shares, compared to its average volume of 857,947. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. The firm has a market cap of $11.94 billion, a P/E ratio of 20.34, a PEG ratio of 3.97 and a beta of 1.02. The business has a fifty day moving average of $134.42 and a two-hundred day moving average of $133.06. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.68 by $0.18. The business had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, sell-side analysts expect that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 1.47%. Allegion's dividend payout ratio is 28.65%.

Insider Activity at Allegion

In other news, SVP Tracy L. Kemp sold 2,032 shares of Allegion stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the sale, the senior vice president now directly owns 10,273 shares of the company's stock, valued at approximately $1,302,000.02. This trade represents a 16.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ALLE shares. Wall Street Zen lowered Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Robert W. Baird upped their target price on Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Barclays upped their target price on Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a research report on Friday, April 25th. Wells Fargo & Company dropped their price target on Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Finally, Morgan Stanley upped their price objective on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $140.40.

About Allegion

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.