Allegion PLC (ALLE) Stake Lessened by Bridgewater Associates LP

Bridgewater Associates LP lessened its stake in shares of Allegion PLC (NYSE:ALLE) by 70.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,989 shares of the scientific and technical instruments company’s stock after selling 7,044 shares during the quarter. Bridgewater Associates LP’s holdings in Allegion were worth $271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALLE. Cornerstone Wealth Management LLC purchased a new stake in shares of Allegion during the 2nd quarter valued at about $279,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Allegion by 58.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 23,888 shares of the scientific and technical instruments company’s stock valued at $1,848,000 after acquiring an additional 8,848 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Allegion by 28.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,683 shares of the scientific and technical instruments company’s stock valued at $285,000 after acquiring an additional 810 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Allegion by 3.5% during the 2nd quarter. TD Asset Management Inc. now owns 200,624 shares of the scientific and technical instruments company’s stock valued at $15,521,000 after acquiring an additional 6,763 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Allegion by 1.4% during the 2nd quarter. Wells Fargo & Company MN now owns 312,689 shares of the scientific and technical instruments company’s stock valued at $24,189,000 after acquiring an additional 4,205 shares during the last quarter. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Douglas P. Ranck sold 3,200 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $89.78, for a total value of $287,296.00. Following the transaction, the insider now owns 10,348 shares in the company, valued at approximately $929,043.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.

Shares of NYSE:ALLE opened at $89.74 on Friday. Allegion PLC has a twelve month low of $73.85 and a twelve month high of $94.30. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 2.37. The company has a market capitalization of $8.58 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.57 and a beta of 1.06.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, October 25th. The scientific and technical instruments company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.02. Allegion had a net margin of 11.75% and a return on equity of 85.03%. The firm had revenue of $711.50 million for the quarter, compared to analysts’ expectations of $699.07 million. As a group, analysts expect that Allegion PLC will post 4.49 EPS for the current fiscal year.

A number of brokerages have recently issued reports on ALLE. Morgan Stanley began coverage on shares of Allegion in a report on Monday, August 20th. They set an “equal weight” rating and a $88.00 price target on the stock. Credit Suisse Group began coverage on shares of Allegion in a report on Friday, October 12th. They set an “outperform” rating and a $96.00 price target on the stock. Zacks Investment Research reaffirmed a “hold” rating on shares of Allegion in a report on Monday, November 12th. ValuEngine downgraded shares of Allegion from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Co raised their price target on shares of Allegion from $96.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, October 26th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $95.50.

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About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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