Mirae Asset Global Investments Co. Ltd. Buys 18,320 Shares of Allegion PLC (NYSE:ALLE)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 174.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,845 shares of the scientific and technical instruments company's stock after acquiring an additional 18,320 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Allegion were worth $3,701,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ALLE. Douglass Winthrop Advisors LLC raised its holdings in Allegion by 0.4% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company's stock worth $2,911,000 after purchasing an additional 80 shares during the last quarter. Waterloo Capital L.P. raised its stake in shares of Allegion by 1.2% during the fourth quarter. Waterloo Capital L.P. now owns 7,180 shares of the scientific and technical instruments company's stock worth $938,000 after buying an additional 83 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Allegion by 2.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,593 shares of the scientific and technical instruments company's stock valued at $469,000 after buying an additional 83 shares during the period. IFP Advisors Inc boosted its stake in Allegion by 23.2% in the fourth quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company's stock valued at $59,000 after acquiring an additional 85 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Allegion by 15.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 760 shares of the scientific and technical instruments company's stock worth $99,000 after acquiring an additional 99 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Allegion Price Performance

Allegion stock traded up $0.34 during midday trading on Wednesday, reaching $147.99. The company's stock had a trading volume of 765,135 shares, compared to its average volume of 866,823. The company has a current ratio of 2.17, a quick ratio of 1.51 and a debt-to-equity ratio of 1.23. The stock has a market cap of $12.73 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. Allegion PLC has a 52 week low of $113.27 and a 52 week high of $156.10. The business has a 50-day moving average price of $140.41 and a 200-day moving average price of $133.02.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly 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. The company had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. Allegion had a net margin of 16.28% and a return on equity of 44.82%. The firm's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 EPS. On average, sell-side analysts predict that Allegion PLC will post 7.77 EPS for the current year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 1.38%. Allegion's dividend payout ratio is 28.65%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ALLE shares. Robert W. Baird raised their price target on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Barclays lifted their price objective on Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a report on Friday, April 25th. Wall Street Zen lowered shares of Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Allegion in a research report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price objective for the company. 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.