Pallas Capital Advisors LLC Invests $1.57 Million in Allegion plc (NYSE:ALLE)

Pallas Capital Advisors LLC purchased a new stake in Allegion plc (NYSE:ALLE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,033 shares of the scientific and technical instruments company's stock, valued at approximately $1,570,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Millstone Evans Group LLC acquired a new stake in shares of Allegion during the fourth quarter worth $28,000. Colonial Trust Co SC increased its position in shares of Allegion by 192.9% during the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock worth $33,000 after buying an additional 164 shares during the period. Atala Financial Inc bought a new position in Allegion during the fourth quarter worth $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 worth $40,000 after acquiring an additional 223 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in Allegion by 56.1% during the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock worth $42,000 after acquiring an additional 115 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALLE. Barclays increased 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. Wells Fargo & Company dropped their price objective on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird raised their price objective on shares of Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Morgan Stanley raised their price objective on shares of Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Wall Street Zen lowered shares of Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $140.40.

Allegion Stock Down 2.5%

Shares of ALLE traded down $3.49 during trading hours on Friday, reaching $135.18. 556,572 shares of the stock traded hands, compared to its average volume of 868,442. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The stock has a fifty day simple moving average of $136.16 and a 200 day simple moving average of $133.08. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10. The company has a market cap of $11.63 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 3.97 and a beta of 1.02.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.68 by $0.18. The business had revenue of $941.90 million for 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 company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 earnings per share. On average, equities analysts forecast that Allegion plc will post 7.77 EPS for the current year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, June 13th. Allegion's dividend payout ratio is 28.65%.

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.