OppenheimerFunds Inc. Lowers Position in Allegion PLC (ALLE)

OppenheimerFunds Inc. cut its position in shares of Allegion PLC (NYSE:ALLE) by 99.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,663 shares of the scientific and technical instruments company’s stock after selling 382,925 shares during the period. OppenheimerFunds Inc.’s holdings in Allegion PLC were worth $277,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. First Manhattan Co. increased its stake in Allegion PLC by 51.3% in the first quarter. First Manhattan Co. now owns 2,212 shares of the scientific and technical instruments company’s stock worth $152,000 after buying an additional 750 shares in the last quarter. Creative Planning increased its position in shares of Allegion PLC by 10.9% in the first quarter. Creative Planning now owns 2,080 shares of the scientific and technical instruments company’s stock worth $157,000 after buying an additional 205 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Allegion PLC by 2.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,256 shares of the scientific and technical instruments company’s stock worth $171,000 after buying an additional 59 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Allegion PLC during the first quarter worth $174,000. Finally, Sigma Planning Corp acquired a new position in shares of Allegion PLC during the first quarter worth $201,000. Institutional investors own 93.60% of the company’s stock.

Shares of Allegion PLC (ALLE) traded down 0.84% during midday trading on Friday, hitting $78.17. The stock had a trading volume of 327,935 shares. The stock’s 50-day moving average price is $80.56 and its 200 day moving average price is $77.14. Allegion PLC has a 52 week low of $61.47 and a 52 week high of $82.90. The company has a market cap of $7.42 billion, a price-to-earnings ratio of 30.24 and a beta of 1.10.

Allegion PLC (NYSE:ALLE) last posted its earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.11. The company had revenue of $627 million during the quarter, compared to analysts’ expectations of $613.37 million. Allegion PLC had a net margin of 10.76% and a return on equity of 198.25%. Allegion PLC’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company posted $0.99 earnings per share. On average, equities analysts forecast that Allegion PLC will post $3.78 earnings per share for the current year.

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ALLE has been the topic of a number of recent analyst reports. BidaskClub raised Allegion PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Zacks Investment Research raised Allegion PLC from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Friday, June 30th. Credit Suisse Group reissued a “buy” rating and set a $89.00 price target on shares of Allegion PLC in a research report on Friday, April 28th. Wolfe Research initiated coverage on Allegion PLC in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, Robert W. Baird downgraded Allegion PLC from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $80.00 to $85.00 in a research report on Friday, April 28th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $86.00.

In other Allegion PLC news, insider Todd V. Graves sold 1,858 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $79.19, for a total transaction of $147,135.02. Following the completion of the transaction, the insider now owns 12,084 shares in the company, valued at $956,931.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy P. Eckersley sold 12,782 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $81.14, for a total transaction of $1,037,131.48. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

Allegion PLC Company Profile

Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.

Institutional Ownership by Quarter for Allegion PLC (NYSE:ALLE)

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