Baird Financial Group Inc. boosted its stake in Allegion PLC (NYSE:ALLE) by 11.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,918 shares of the scientific and technical instruments company’s stock after buying an additional 4,383 shares during the quarter. Baird Financial Group Inc.’s holdings in Allegion were worth $3,397,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in ALLE. HighVista Strategies LLC raised its holdings in shares of Allegion by 17.9% during the 1st quarter. HighVista Strategies LLC now owns 4,600 shares of the scientific and technical instruments company’s stock valued at $392,000 after purchasing an additional 700 shares in the last quarter. 180 Wealth Advisors LLC raised its holdings in shares of Allegion by 21.7% during the 2nd quarter. 180 Wealth Advisors LLC now owns 3,928 shares of the scientific and technical instruments company’s stock valued at $304,000 after purchasing an additional 701 shares in the last quarter. Meadow Creek Investment Management LLC grew its stake in Allegion by 11.0% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 7,336 shares of the scientific and technical instruments company’s stock valued at $567,000 after buying an additional 728 shares during the last quarter. Granite Investment Advisors LLC grew its stake in Allegion by 26.7% in the 2nd quarter. Granite Investment Advisors LLC now owns 3,800 shares of the scientific and technical instruments company’s stock valued at $294,000 after buying an additional 800 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Allegion by 28.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,683 shares of the scientific and technical instruments company’s stock valued at $285,000 after buying an additional 810 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.
NYSE:ALLE opened at $89.34 on Friday. Allegion PLC has a 1 year low of $73.85 and a 1 year high of $90.18. The company has a current ratio of 1.80, a quick ratio of 1.24 and a debt-to-equity ratio of 2.80. The firm has a market capitalization of $8.52 billion, a P/E ratio of 22.56, a PEG ratio of 1.52 and a beta of 1.08.
Allegion (NYSE:ALLE) last posted its earnings results on Thursday, July 26th. The scientific and technical instruments company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. Allegion had a net margin of 11.19% and a return on equity of 91.38%. The business had revenue of $704.70 million for the quarter, compared to analyst estimates of $697.96 million. During the same period last year, the business posted $1.11 EPS. Allegion’s revenue was up 12.4% compared to the same quarter last year. research analysts forecast that Allegion PLC will post 4.47 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Monday, September 17th will be paid a $0.21 dividend. The ex-dividend date is Friday, September 14th. This represents a $0.84 dividend on an annualized basis and a yield of 0.94%. Allegion’s payout ratio is presently 21.21%.
A number of research analysts recently issued reports on ALLE shares. Zacks Investment Research upgraded shares of Allegion from a “sell” rating to a “hold” rating in a research note on Monday, July 9th. ValuEngine lowered shares of Allegion from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Wells Fargo & Co lowered their target price on shares of Allegion from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 17th. Finally, Morgan Stanley started coverage on shares of Allegion in a research note on Monday, August 20th. They issued an “equal weight” rating and a $88.00 target price on the stock. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Allegion currently has an average rating of “Hold” and a consensus price target of $94.00.
In other Allegion news, insider Douglas P. Ranck sold 3,200 shares of the firm’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $89.78, for a total value of $287,296.00. Following the sale, the insider now directly owns 10,348 shares in the company, valued at approximately $929,043.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.
Allegion Company Profile
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.
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