Sumitomo Mitsui Trust Group Inc. trimmed its stake in Allegion PLC (NYSE:ALLE - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 199,680 shares of the scientific and technical instruments company's stock after selling 4,820 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Allegion worth $26,050,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Douglass Winthrop Advisors LLC grew its holdings in shares of Allegion by 0.4% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company's stock valued at $2,911,000 after buying an additional 80 shares in the last quarter. Waterloo Capital L.P. grew its holdings 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 valued at $938,000 after buying an additional 83 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Allegion by 2.4% during 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 in the last quarter. IFP Advisors Inc grew its holdings in shares of Allegion by 23.2% during the fourth quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company's stock valued at $59,000 after buying an additional 85 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Allegion by 15.0% during the first quarter. Exchange Traded Concepts LLC now owns 760 shares of the scientific and technical instruments company's stock valued at $99,000 after buying an additional 99 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ALLE has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on Allegion in a research report on Tuesday, June 24th. They set an "overweight" rating and a $170.00 price objective for the company. Barclays lifted their price objective on Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a research report on Friday, April 25th. Finally, Robert W. Baird lifted their price objective on Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. One equities 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $145.33.
Check Out Our Latest Analysis on ALLE
Allegion Stock Performance
Shares of NYSE ALLE traded up $0.16 during trading hours on Friday, hitting $148.11. 411,792 shares of the company's stock were exchanged, compared to its average volume of 869,165. Allegion PLC has a 1-year low of $114.04 and a 1-year high of $156.10. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.17 and a quick ratio of 1.51. The stock has a market capitalization of $12.74 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 4.15 and a beta of 1.01. The company's 50-day moving average price is $141.25 and its 200-day moving average price is $133.28.
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. Allegion had a return on equity of 44.82% and a net margin of 16.28%. The firm had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. During the same period in the previous year, the company posted $1.55 earnings per share. The company's quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Allegion PLC will post 7.77 earnings per share for the current fiscal year.
Allegion Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.51 dividend. 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 currently 28.65%.
About Allegion
(
Free Report)
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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