Wealth Enhancement Advisory Services LLC Buys 32,842 Shares of Allegion PLC (NYSE:ALLE)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Allegion PLC (NYSE:ALLE - Free Report) by 324.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,969 shares of the scientific and technical instruments company's stock after purchasing an additional 32,842 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Allegion were worth $5,606,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

ALLE has been the subject of a number of recent research reports. Robert W. Baird raised their target price on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Barclays increased their price target on Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. initiated coverage on Allegion in a research note on Tuesday. They issued an "overweight" rating and a $170.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Allegion from a "buy" rating to a "hold" rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $145.33.

Allegion Stock Performance

Shares of NYSE ALLE traded up $0.74 during mid-day trading on Thursday, hitting $143.56. The company had a trading volume of 628,078 shares, compared to its average volume of 992,058. 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 company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 4.04 and a beta of 1.02. The stock's 50-day moving average price is $138.88 and its 200-day moving average price is $132.94.

Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $0.18. Allegion had a return on equity of 44.82% and a net margin of 16.28%. The business had revenue of $941.90 million during the quarter, compared to analyst estimates of $918.53 million. During the same quarter in the previous year, the firm earned $1.55 EPS. The company's quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, June 13th. Allegion's dividend payout ratio is presently 28.65%.

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.