Bessemer Group Inc. Has $255,000 Stake in Allegion PLC (NYSE:ALLE)

Bessemer Group Inc. reduced its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 89.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,955 shares of the scientific and technical instruments company's stock after selling 15,763 shares during the quarter. Bessemer Group Inc.'s holdings in Allegion were worth $255,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ALLE. Millstone Evans Group LLC acquired a new stake in shares of Allegion in the fourth quarter valued at approximately $28,000. Colonial Trust Co SC increased its stake in shares of Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock valued at $33,000 after purchasing an additional 164 shares during the period. Atala Financial Inc acquired a new stake in shares of Allegion in the fourth quarter valued at approximately $35,000. Garde Capital Inc. acquired a new stake in shares of Allegion in the first quarter valued at approximately $36,000. Finally, GeoWealth Management LLC increased its stake in shares of Allegion by 259.3% in the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock valued at $40,000 after purchasing an additional 223 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Price Performance

Shares of NYSE ALLE traded up $0.16 during mid-day trading on Friday, reaching $148.11. 411,792 shares of the company traded hands, compared to its average volume of 869,165. Allegion PLC has a fifty-two week low of $114.04 and a fifty-two week high of $156.10. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.17 and a quick ratio of 1.51. The firm has a market cap of $12.74 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 4.15 and a beta of 1.01. The stock has a fifty day simple moving average of $141.25 and a 200-day simple moving average of $133.28.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.68 by $0.18. Allegion had a net margin of 16.28% and a return on equity of 44.82%. The business had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. During the same quarter last year, the business earned $1.55 earnings per share. The business's revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 1.38%. Allegion's dividend payout ratio (DPR) is 28.65%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Robert W. Baird raised their price target on shares of Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Barclays raised their price target on shares of Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. started coverage on shares of Allegion in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $170.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $145.33.

About Allegion

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.