Allegion PLC (NYSE:ALLE) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its position in Allegion PLC (NYSE:ALLE - Free Report) by 25.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,392 shares of the scientific and technical instruments company's stock after selling 2,864 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Allegion were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALLE. Fiduciary Management Inc. WI purchased a new position in shares of Allegion during the 4th quarter worth $116,484,000. Norges Bank acquired a new position in Allegion in the fourth quarter valued at $108,058,000. Raymond James Financial Inc. purchased a new position in Allegion during the fourth quarter worth about $65,175,000. Boston Partners lifted its position in 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 worth $616,503,000 after buying an additional 488,390 shares during the period. Finally, Lord Abbett & CO. LLC grew its holdings in Allegion by 24.8% in the 4th 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 buying an additional 414,595 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ALLE shares. Barclays boosted their target price on shares of Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a report 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. Robert W. Baird upped their price objective on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. started coverage on Allegion in a report on Tuesday. They issued an "overweight" rating and a $170.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Allegion presently has a consensus rating of "Hold" and an average target price of $145.33.

Allegion Stock Down 0.5%

Allegion stock traded down $0.77 during trading on Wednesday, reaching $142.84. 793,389 shares of the company's stock were exchanged, compared to its average volume of 875,493. Allegion PLC has a 52-week low of $113.27 and a 52-week high of $156.10. The firm has a market cap of $12.29 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 4.01 and a beta of 1.02. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.51 and a current ratio of 2.17. The company's 50-day moving average is $138.53 and its two-hundred day moving average is $132.87.

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

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.43%. Allegion's payout ratio is currently 28.65%.

Allegion Company 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.