Allegion plc (NYSE:ALLE) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Allegion plc (NYSE:ALLE) by 12.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,599 shares of the scientific and technical instruments company’s stock after selling 2,161 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Allegion were worth $2,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Verition Fund Management LLC raised its holdings in Allegion by 100.7% during the third quarter. Verition Fund Management LLC now owns 11,229 shares of the scientific and technical instruments company’s stock worth $1,637,000 after purchasing an additional 5,634 shares in the last quarter. Captrust Financial Advisors raised its holdings in Allegion by 2.8% during the third quarter. Captrust Financial Advisors now owns 3,541 shares of the scientific and technical instruments company’s stock worth $516,000 after purchasing an additional 96 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Allegion by 0.9% during the third quarter. Rockefeller Capital Management L.P. now owns 110,207 shares of the scientific and technical instruments company’s stock worth $16,062,000 after purchasing an additional 973 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Allegion by 11.9% during the third quarter. Public Sector Pension Investment Board now owns 3,748 shares of the scientific and technical instruments company’s stock worth $546,000 after purchasing an additional 400 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Allegion by 397.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock worth $88,450,000 after purchasing an additional 484,995 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Robert W. Baird lifted their target price on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Mizuho lifted their target price on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays lifted their target price on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $144.60.

Insiders Place Their Bets

In related news, CEO John H. Stone bought 7,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the transaction, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the sale, the senior vice president now owns 7,104 shares in the company, valued at $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Allegion Stock Performance

Shares of ALLE opened at $141.06 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The stock has a market capitalization of $12.26 billion, a P/E ratio of 21.67, a P/E/G ratio of 3.35 and a beta of 1.10. The company’s fifty day moving average is $143.72 and its two-hundred day moving average is $133.17. Allegion plc has a 1 year low of $104.25 and a 1 year high of $156.10.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.18. The company had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. Allegion’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 EPS. On average, sell-side analysts predict that Allegion plc will post 7.41 earnings per share 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.