Envestnet Portfolio Solutions Inc. Sells 2,864 Shares of Allegion PLC (NYSE:ALLE)

Envestnet Portfolio Solutions Inc. reduced its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 25.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Allegion by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company's stock worth $1,400,688,000 after acquiring an additional 177,808 shares in the last quarter. Boston Partners boosted its position 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 worth $616,503,000 after buying an additional 488,390 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Allegion by 1.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company's stock worth $509,313,000 after buying an additional 38,377 shares during the period. Geode Capital Management LLC boosted its position in shares of Allegion by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company's stock worth $280,607,000 after buying an additional 41,417 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position 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 worth $273,022,000 after buying an additional 414,595 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Allegion Stock Up 0.3%

NYSE ALLE traded up $0.41 during trading hours on Friday, hitting $143.80. 699,884 shares of the company traded hands, compared to its average volume of 867,525. The business's 50-day moving average is $139.58 and its 200-day moving average is $132.93. Allegion PLC has a twelve month low of $113.27 and a twelve month high of $156.10. 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 stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 4.05 and a beta of 1.02.

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, beating the consensus estimate of $1.68 by $0.18. Allegion had a return on equity of 44.82% and a net margin of 16.28%. The firm had revenue of $941.90 million during the quarter, compared to analysts' expectations of $918.53 million. During the same period in the prior year, the firm posted $1.55 earnings per share. The business's quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALLE. JPMorgan Chase & Co. began coverage on Allegion in a research report on Tuesday. They set an "overweight" rating and a $170.00 price objective for the company. 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 stock 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 stock an "underweight" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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.