State of Michigan Retirement System Sells 100 Shares of Allegion plc (NYSE:ALLE)

State of Michigan Retirement System lowered its stake in shares of Allegion plc (NYSE:ALLE) by 0.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 23,928 shares of the scientific and technical instruments company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Allegion were worth $2,827,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALLE. Covestor Ltd grew its stake in shares of Allegion by 255.7% in the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after acquiring an additional 225 shares in the last quarter. Gradient Investments LLC bought a new stake in Allegion in the 2nd quarter worth about $38,000. Larson Financial Group LLC purchased a new stake in Allegion in the 1st quarter valued at about $44,000. Blue Trust Inc. increased its stake in Allegion by 54.0% in the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock valued at $41,000 after buying an additional 121 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new position in shares of Allegion during the 1st quarter worth approximately $50,000. 92.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ALLE has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Barclays raised their price objective on shares of Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a report on Thursday, July 25th. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $125.40.

Allegion Trading Down 0.4 %

Shares of Allegion stock opened at $137.21 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. The stock has a market capitalization of $12.00 billion, a P/E ratio of 22.38, a P/E/G ratio of 4.08 and a beta of 1.13. Allegion plc has a 52-week low of $95.94 and a 52-week high of $141.99. The stock’s 50-day simple moving average is $125.94 and its 200 day simple moving average is $126.52.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company had revenue of $965.60 million during the quarter, compared to analysts’ expectations of $953.63 million. During the same period in the previous year, the business earned $1.76 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts anticipate that Allegion plc will post 7.22 EPS for the current year.

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.