Higgins & Schmidt Wealth Strategies LLC bought a new stake in Allegion PLC (NYSE:ALLE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,609 shares of the scientific and technical instruments company's stock, valued at approximately $340,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Trust Walden Corp grew its position in shares of Allegion by 29.4% in the 1st quarter. Boston Trust Walden Corp now owns 608,020 shares of the scientific and technical instruments company's stock valued at $79,322,000 after acquiring an additional 138,294 shares during the period. Institute for Wealth Management LLC. bought a new position in shares of Allegion in the 1st quarter valued at about $235,000. State of Alaska Department of Revenue grew its position in shares of Allegion by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 10,183 shares of the scientific and technical instruments company's stock valued at $1,328,000 after acquiring an additional 270 shares during the period. JLB & Associates Inc. grew its position in shares of Allegion by 1.1% in the 1st quarter. JLB & Associates Inc. now owns 30,990 shares of the scientific and technical instruments company's stock valued at $4,043,000 after acquiring an additional 338 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of Allegion by 9.9% in the 1st quarter. QRG Capital Management Inc. now owns 23,797 shares of the scientific and technical instruments company's stock valued at $3,105,000 after acquiring an additional 2,144 shares during the period. Institutional investors own 92.21% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on ALLE. Barclays raised their target price on shares of Allegion from $126.00 to $128.00 and gave the stock 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. Finally, Robert W. Baird lifted their price objective on shares of Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $140.40.
Read Our Latest Research Report on Allegion
Allegion Stock Performance
Allegion stock traded up $0.76 during midday trading on Friday, hitting $137.56. The company's stock had a trading volume of 2,000,366 shares, compared to its average volume of 875,966. The company has a 50-day moving average price of $137.62 and a two-hundred day moving average price of $132.91. The company has a market cap of $11.84 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 3.85 and a beta of 1.02. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.17 and a quick ratio of 1.51. 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 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. The company had revenue of $941.90 million during the quarter, compared to analysts' expectations of $918.53 million. Allegion had a net margin of 16.28% and a return on equity of 44.82%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 EPS. As a group, sell-side 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 $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Friday, June 13th. Allegion's payout ratio is presently 28.65%.
About Allegion
(
Free Report)
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.
Further Reading
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