Pallas Capital Advisors LLC Makes New Investment in Allegion plc (NYSE:ALLE)

Pallas Capital Advisors LLC purchased a new position in Allegion plc (NYSE:ALLE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,033 shares of the scientific and technical instruments company's stock, valued at approximately $1,570,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALLE. Millstone Evans Group LLC bought a new stake in Allegion in the 4th quarter valued at $28,000. Colonial Trust Co SC increased its holdings in shares of Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 164 shares during the last quarter. Atala Financial Inc purchased a new stake in shares of Allegion in the fourth quarter worth about $35,000. GeoWealth Management LLC boosted its stake in Allegion by 259.3% during the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock valued at $40,000 after buying an additional 223 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in Allegion by 56.1% during the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock valued at $42,000 after buying an additional 115 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Trading Up 0.0%

Shares of ALLE stock traded up $0.01 on Tuesday, reaching $139.61. 643,509 shares of the company's stock were exchanged, compared to its average volume of 865,576. The company's fifty day simple moving average is $135.27 and its 200 day simple moving average is $133.03. The stock has a market capitalization of $12.01 billion, a PE ratio of 20.47, a P/E/G ratio of 3.97 and a beta of 1.02. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. Allegion plc has a 52 week low of $113.27 and a 52 week 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.18. The firm had revenue of $941.90 million during the quarter, compared to analyst estimates of $918.53 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The business's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 earnings per share. As a group, analysts forecast that Allegion plc will post 7.77 EPS for the current year.

Allegion Dividend Announcement

The business 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. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Friday, June 13th. Allegion's dividend payout ratio (DPR) is presently 28.65%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ALLE shares. Morgan Stanley upped their price objective on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Wall Street Zen downgraded shares of Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Wells Fargo & Company dropped their price objective on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 19th. Robert W. Baird boosted their target price on shares of Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Finally, Barclays boosted their price objective on Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $140.40.

Allegion 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.