BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 69,161 Shares of Allegion plc (NYSE:ALLE)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its stake in Allegion plc (NYSE:ALLE) by 36.9% in the first quarter, Holdings Channel.com reports. The firm owned 118,266 shares of the scientific and technical instruments company’s stock after selling 69,161 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Allegion were worth $15,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp lifted its position in Allegion by 2.8% in the first quarter. Van ECK Associates Corp now owns 3,306,600 shares of the scientific and technical instruments company’s stock worth $445,432,000 after purchasing an additional 90,951 shares during the period. Brown Advisory Inc. raised its position in Allegion by 33.0% in the fourth quarter. Brown Advisory Inc. now owns 1,895,352 shares of the scientific and technical instruments company’s stock worth $240,122,000 after purchasing an additional 470,104 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Allegion during the fourth quarter worth about $120,959,000. Norges Bank acquired a new stake in Allegion during the fourth quarter valued at approximately $110,740,000. Finally, Russell Investments Group Ltd. boosted its stake in Allegion by 1.4% in the 1st quarter. Russell Investments Group Ltd. now owns 856,816 shares of the scientific and technical instruments company’s stock valued at $115,411,000 after buying an additional 11,947 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Up 1.3 %

ALLE traded up $1.69 during trading hours on Thursday, hitting $128.61. 99,418 shares of the company’s stock were exchanged, compared to its average volume of 687,386. The stock’s 50-day moving average is $119.85 and its two-hundred day moving average is $124.97. The company has a quick ratio of 0.87, a current ratio of 1.31 and a debt-to-equity ratio of 1.18. Allegion plc has a 1-year low of $95.94 and a 1-year high of $136.91. The stock has a market cap of $11.25 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 4.02 and a beta of 1.13.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. Allegion had a return on equity of 48.58% and a net margin of 14.93%. The company had revenue of $893.90 million during the quarter, compared to analysts’ expectations of $888.27 million. During the same quarter last year, the company earned $1.58 EPS. Allegion’s revenue for the quarter was down 3.2% compared to the same quarter last year. Sell-side analysts predict that Allegion plc will post 7.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALLE has been the subject of several recent analyst reports. UBS Group increased their price objective on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. Wells Fargo & Company dropped their target price on Allegion from $141.00 to $125.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Barclays cut their target price on shares of Allegion from $116.00 to $112.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $123.67.

Insiders Place Their Bets

In related news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the transaction, the senior vice president now directly owns 11,103 shares in the company, valued at $1,354,343.94. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.33% of the company’s stock.

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.