Lecap Asset Management Ltd. Grows Stake in Allegion PLC (NYSE:ALLE)

Lecap Asset Management Ltd. grew its stake in Allegion PLC (NYSE:ALLE - Free Report) by 46.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,698 shares of the scientific and technical instruments company's stock after acquiring an additional 5,648 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Allegion were worth $2,309,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Fiduciary Management Inc. WI bought a new position in shares of Allegion during the fourth quarter valued at $116,484,000. Norges Bank bought a new position in shares of Allegion during the fourth quarter valued at $108,058,000. Raymond James Financial Inc. bought a new position in shares of Allegion during the fourth quarter valued at $65,175,000. Boston Partners lifted its holdings in shares of Allegion by 11.6% during the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company's stock valued at $616,503,000 after purchasing an additional 488,390 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Allegion by 24.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,089,239 shares of the scientific and technical instruments company's stock valued at $273,022,000 after purchasing an additional 414,595 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Allegion Stock Performance

ALLE traded up $0.41 during midday trading on Friday, reaching $143.80. The company had a trading volume of 699,884 shares, compared to its average volume of 875,988. The company has a quick ratio of 1.51, a current ratio of 2.17 and a debt-to-equity ratio of 1.23. The business has a 50-day moving average of $139.23 and a two-hundred day moving average of $132.96. The company has a market cap of $12.37 billion, a P/E ratio of 20.20, a P/E/G ratio of 4.04 and a beta of 1.02. Allegion PLC has a 1 year low of $113.27 and a 1 year high of $156.10.

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

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, June 13th. Allegion's payout ratio is 28.65%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALLE. JPMorgan Chase & Co. began coverage on Allegion in a report on Tuesday. They set an "overweight" rating and a $170.00 price target on the stock. Wall Street Zen cut Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Robert W. Baird upped their price objective on Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Finally, Barclays upped their price objective on Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $145.33.

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.