New York State Common Retirement Fund Reduces Holdings in Allegion PLC (NYSE:ALLE)

New York State Common Retirement Fund lowered its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 21.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,547 shares of the scientific and technical instruments company's stock after selling 15,200 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Allegion worth $7,377,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ALLE. Vanguard Group Inc. lifted its holdings in shares of Allegion by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company's stock valued at $1,400,688,000 after acquiring an additional 177,808 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Allegion by 1.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company's stock valued at $509,313,000 after buying an additional 38,377 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Allegion by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company's stock valued at $280,607,000 after acquiring an additional 41,417 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Allegion by 13.2% in the first quarter. Brown Advisory Inc. now owns 2,141,492 shares of the scientific and technical instruments company's stock worth $279,379,000 after acquiring an additional 249,295 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Allegion by 24.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,089,239 shares of the scientific and technical instruments company's stock valued at $273,022,000 after buying an additional 414,595 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ALLE. Morgan Stanley raised their target price on Allegion from $139.00 to $151.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Robert W. Baird upped their price objective on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. JPMorgan Chase & Co. started coverage on Allegion in a research report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price target on the stock. The Goldman Sachs Group upped their target price on Allegion from $149.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Barclays raised their target price on shares of Allegion from $128.00 to $135.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $151.57.

Allegion Trading Down 0.5%

ALLE opened at $152.77 on Friday. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 3.85 and a beta of 1.01. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $156.10. The company's 50 day moving average price is $143.17 and its two-hundred day moving average price is $134.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.17 and a quick ratio of 1.51.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.18. The firm had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. Allegion had a return on equity of 44.82% and a net margin of 16.28%. The company's revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.55 earnings per share. As a group, research analysts predict that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Company 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.

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