Todays Report: Today: JPMorgan Chase & Co. cuts position of Allegion PLC (ALLE)

Today: JPMorgan Chase & Co. cuts position of Allegion PLC (ALLE)

JPMorgan Chase & Co. reduced its position in shares of Allegion PLC (NYSE:ALLE) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,762,024 shares of the company’s stock after selling 265,651 shares during the period. JPMorgan Chase & Co. owned approximately 7.04% of Allegion PLC worth $465,972,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Sei Investments Co. increased its stake in shares of Allegion PLC by 11.7% in the third quarter. Sei Investments Co. now owns 77,034 shares of the company’s stock worth $5,309,000 after buying an additional 8,054 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Allegion PLC by 3.1% in the third quarter. UBS Asset Management Americas Inc. now owns 151,629 shares of the company’s stock worth $10,449,000 after buying an additional 4,531 shares during the last quarter. M&T Bank Corp increased its stake in shares of Allegion PLC by 5.4% in the third quarter. M&T Bank Corp now owns 6,244 shares of the company’s stock worth $430,000 after buying an additional 322 shares during the last quarter. Guyasuta Investment Advisors Inc. acquired a new stake in shares of Allegion PLC during the third quarter worth $204,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Allegion PLC by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 1,119,922 shares of the company’s stock worth $77,173,000 after buying an additional 4,783 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Allegion PLC (NYSE:ALLE) traded down 0.53% during mid-day trading on Monday, hitting $67.55. 179,728 shares of the stock were exchanged. The stock has a market capitalization of $6.49 billion, a P/E ratio of 28.99 and a beta of 1.09. The firm has a 50-day moving average price of $66.59 and a 200-day moving average price of $68.64. Allegion PLC has a 12-month low of $52.95 and a 12-month high of $73.49.

Allegion PLC (NYSE:ALLE) last announced its earnings results on Thursday, October 27th. The company reported $0.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by $0.02. Allegion PLC had a net margin of 10.22% and a return on equity of 327.24%. The business earned $581.10 million during the quarter, compared to analyst estimates of $586.67 million. During the same quarter last year, the business posted $0.92 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities analysts predict that Allegion PLC will post $3.40 earnings per share for the current fiscal year.

A number of brokerages have weighed in on ALLE. TheStreet raised shares of Allegion PLC from a “hold” rating to a “buy” rating in a report on Tuesday, November 15th. Imperial Capital raised shares of Allegion PLC from an “in-line” rating to an “outperform” rating and cut their price target for the company from $79.00 to $72.00 in a report on Tuesday, November 1st. Berenberg Bank initiated coverage on shares of Allegion PLC in a research note on Thursday, October 6th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Allegion PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $74.00.

In related news, insider Feng William Yu sold 11,818 shares of Allegion PLC stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $63.52, for a total value of $750,679.36. Following the completion of the sale, the insider now directly owns 33,146 shares in the company, valued at $2,105,433.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.40% of the stock is owned by corporate insiders.

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