Avanza Fonder AB Invests $803,000 in Allegion plc (NYSE:ALLE)

Avanza Fonder AB acquired a new position in Allegion plc (NYSE:ALLE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,079 shares of the scientific and technical instruments company's stock, valued at approximately $803,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Fiduciary Management Inc. WI bought a new stake in shares of Allegion in the fourth quarter valued at approximately $116,484,000. Norges Bank bought a new stake in shares of Allegion in the fourth quarter valued at approximately $108,058,000. Raymond James Financial Inc. bought a new stake in shares of Allegion in the fourth quarter valued at approximately $65,175,000. Boston Partners raised its position in shares of Allegion by 11.6% in 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 during the period. Finally, Allianz Asset Management GmbH raised its position in shares of Allegion by 312.4% in the fourth quarter. Allianz Asset Management GmbH now owns 574,012 shares of the scientific and technical instruments company's stock valued at $75,012,000 after purchasing an additional 434,820 shares during the period. Institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

ALLE has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 19th. Barclays boosted their price objective 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. Wall Street Zen cut shares of Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Morgan Stanley boosted their price objective on shares of Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird boosted their price objective 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. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $140.40.

Allegion Price Performance

ALLE stock traded up $0.72 during midday trading on Monday, reaching $136.02. The company had a trading volume of 608,838 shares, compared to its average volume of 868,958. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10. The company has a market capitalization of $11.70 billion, a P/E ratio of 19.94, a P/E/G ratio of 3.97 and a beta of 1.02. The firm has a 50-day moving average price of $136.86 and a 200-day moving average price of $132.89.

Allegion (NYSE:ALLE - Get Free Report) last released 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. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The business had revenue of $941.90 million during the quarter, compared to analysts' expectations of $918.53 million. During the same quarter in the previous year, the company earned $1.55 EPS. The business's quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.50%. Allegion's payout ratio is 28.65%.

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.