Allegion PLC $ALLE Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,184 shares of the scientific and technical instruments company's stock after selling 6,386 shares during the period. California State Teachers Retirement System owned 0.15% of Allegion worth $18,430,040 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Continuum Advisory LLC acquired a new stake in shares of Allegion during the second quarter worth $25,000. Elevation Wealth Partners LLC increased its position in Allegion by 1,666.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 212 shares of the scientific and technical instruments company's stock worth $30,000 after buying an additional 200 shares during the period. Hantz Financial Services Inc. boosted its position in Allegion by 45.9% during the 4th quarter. Hantz Financial Services Inc. now owns 216 shares of the scientific and technical instruments company's stock worth $34,000 after buying an additional 68 shares during the period. Bard Associates Inc. acquired a new stake in Allegion in the fourth quarter valued at approximately $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Allegion during the 2nd quarter worth approximately $42,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALLE shares. JPMorgan Chase & Co. raised their price target on Allegion from $150.00 to $170.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Longbow Research raised Allegion from a "neutral" rating to a "buy" rating and set a $165.00 target price for the company in a research note on Thursday, June 11th. Robert W. Baird set a $170.00 price target on Allegion in a report on Friday, July 24th. Weiss Ratings raised Allegion from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 4th. Finally, Morgan Stanley cut their price objective on Allegion from $165.00 to $142.00 and set an "equal weight" rating for the company in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $164.75.

Insiders Place Their Bets

In other news, SVP Timothy Eckersley sold 6,417 shares of the company's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $157.26, for a total transaction of $1,009,137.42. Following the transaction, the senior vice president directly owned 29,919 shares in the company, valued at approximately $4,705,061.94. This represents a 17.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vincent Wenos sold 1,000 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $168.25, for a total transaction of $168,250.00. Following the completion of the sale, the senior vice president owned 12,096 shares of the company's stock, valued at approximately $2,035,152. This represents a 7.64% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 11,288 shares of company stock valued at $1,764,593. 0.64% of the stock is owned by insiders.

Allegion Trading Down 0.7%

ALLE traded down $1.11 during midday trading on Tuesday, reaching $154.28. 428,186 shares of the company's stock traded hands, compared to its average volume of 1,092,411. The stock has a market capitalization of $13.12 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 3.12 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.93 and a quick ratio of 1.23. The firm has a fifty day moving average of $154.47 and a two-hundred day moving average of $144.95. Allegion PLC has a 52 week low of $125.00 and a 52 week high of $183.11.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 35.41%. The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the previous year, the business posted $2.04 earnings per share. Allegion's quarterly revenue was up 12.7% on a year-over-year basis. Allegion has set its FY 2026 guidance at 8.850-9.000 EPS. On average, equities analysts anticipate that Allegion PLC will post 8.93 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.4%. Allegion's dividend payout ratio (DPR) is presently 28.87%.

Allegion Profile

Allegion plc NYSE: ALLE is a global provider of security products and solutions designed to help protect people and property. The company serves commercial, institutional, residential and industrial customers with products used to control and manage access to buildings and other facilities.

Its portfolio includes mechanical and electronic locks, access control systems, credentials, door closers, exit devices, door hardware, steel doors and related software and services. Allegion's brands include Schlage, Von Duprin, LCN, Steelcraft and Briton, among others.

Allegion was established as an independent company in 2013 following its separation from Ingersoll Rand.

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