Manning & Napier Advisors LLC Sells 7,348 Shares of Allegion PLC (NYSE:ALLE)

Manning & Napier Advisors LLC cut its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 54.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,112 shares of the scientific and technical instruments company's stock after selling 7,348 shares during the quarter. Manning & Napier Advisors LLC's holdings in Allegion were worth $797,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in 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 valued at $1,400,688,000 after purchasing an additional 177,808 shares during the last quarter. Boston Partners raised its holdings in Allegion by 11.6% in the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company's stock valued at $616,503,000 after buying an additional 488,390 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Allegion by 1.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company's stock valued at $509,313,000 after buying an additional 38,377 shares during the last quarter. Geode Capital Management LLC boosted its position in Allegion by 2.0% during the 4th 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 grew its holdings in Allegion by 24.8% during the 4th 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 acquiring an additional 414,595 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Allegion Trading Down 0.5%

Shares of NYSE:ALLE traded down $0.77 during trading on Wednesday, reaching $142.84. The stock had a trading volume of 793,489 shares, compared to its average volume of 875,854. Allegion PLC has a 52 week low of $113.27 and a 52 week 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 firm's fifty day moving average is $138.88 and its 200 day moving average is $132.94. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 4.04 and a beta of 1.02.

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

Allegion Announces Dividend

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

Analyst Ratings Changes

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

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.