QRG Capital Management Inc. Has $3.11 Million Stake in Allegion PLC (NYSE:ALLE)

QRG Capital Management Inc. increased its position in Allegion PLC (NYSE:ALLE - Free Report) by 9.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 23,797 shares of the scientific and technical instruments company's stock after purchasing an additional 2,144 shares during the period. QRG Capital Management Inc.'s holdings in Allegion were worth $3,105,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALLE. Millstone Evans Group LLC acquired a new stake in shares of Allegion during the 4th quarter valued at $28,000. Colonial Trust Co SC increased its holdings in shares of Allegion by 192.9% during the 4th 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 period. Atala Financial Inc bought a new position in shares of Allegion during the 4th quarter worth about $35,000. GeoWealth Management LLC increased its holdings in shares of Allegion by 259.3% during the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock worth $40,000 after purchasing an additional 223 shares during the period. Finally, Private Trust Co. NA increased its stake in Allegion by 56.1% in the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock valued at $42,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ALLE shares. Barclays upped their target price on shares of Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a research note on Friday, April 25th. Wells Fargo & Company decreased their price target 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. 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. Wall Street Zen cut shares of Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Robert W. Baird lifted their price target on shares of Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $140.40.

Allegion Stock Up 0.3%

Shares of ALLE stock opened at $136.71 on Thursday. The company has a current ratio of 2.17, a quick ratio of 1.51 and a debt-to-equity ratio of 1.23. Allegion PLC has a 1 year low of $113.27 and a 1 year high of $156.10. The firm's fifty day moving average price is $137.33 and its two-hundred day moving average price is $132.94. The firm has a market capitalization of $11.76 billion, a P/E ratio of 19.20, a PEG ratio of 3.84 and a beta of 1.02.

Allegion (NYSE:ALLE - Get Free Report) last issued 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 firm 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 company's revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 EPS. On average, equities analysts predict that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 1.49%. Allegion's dividend payout ratio is presently 28.65%.

About Allegion

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.

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