Prelude Capital Management LLC Invests $258,000 in Allegion plc (NYSE:ALLE)

Prelude Capital Management LLC purchased a new position in shares of Allegion plc (NYSE:ALLE) during the 1st quarter, Holdings Channel.com reports. The firm purchased 2,415 shares of the scientific and technical instruments company’s stock, valued at approximately $258,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Compass Wealth Management LLC acquired a new stake in Allegion during the 4th quarter worth $25,000. Ameritas Advisory Services LLC acquired a new stake in Allegion during the 1st quarter worth $27,000. First Horizon Advisors Inc. raised its stake in Allegion by 55.0% during the 4th quarter. First Horizon Advisors Inc. now owns 296 shares of the scientific and technical instruments company’s stock worth $31,000 after acquiring an additional 105 shares in the last quarter. Signaturefd LLC increased its position in Allegion by 134.1% during the first quarter. Signaturefd LLC now owns 309 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 177 shares during the period. Finally, CWM LLC increased its position in Allegion by 44.9% during the first quarter. CWM LLC now owns 371 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 115 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Stock Performance

Shares of NYSE ALLE opened at $105.23 on Tuesday. The company has a market cap of $9.24 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 2.90 and a beta of 1.11. Allegion plc has a 12 month low of $87.33 and a 12 month high of $128.36. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.93 and a quick ratio of 1.20. The company has a 50-day simple moving average of $113.72 and a 200-day simple moving average of $110.77.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.04. The business had revenue of $912.50 million during the quarter, compared to the consensus estimate of $936.25 million. Allegion had a net margin of 14.27% and a return on equity of 59.20%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 earnings per share. On average, equities analysts anticipate that Allegion plc will post 6.76 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, September 15th. Allegion’s dividend payout ratio is currently 30.82%.

Insider Activity

In other news, SVP Jennifer L. Hawes sold 750 shares of Allegion stock in a transaction on Monday, July 31st. The stock was sold at an average price of $117.50, for a total value of $88,125.00. Following the completion of the sale, the senior vice president now owns 4,488 shares of the company’s stock, valued at $527,340. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Jennifer L. Hawes sold 750 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $117.50, for a total value of $88,125.00. Following the completion of the sale, the senior vice president now directly owns 4,488 shares in the company, valued at $527,340. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John H. Stone bought 17,500 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was bought at an average price of $116.62 per share, with a total value of $2,040,850.00. Following the completion of the acquisition, the chief executive officer now owns 94,248 shares of the company’s stock, valued at approximately $10,991,201.76. The disclosure for this purchase can be found here. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ALLE shares. Longbow Research lowered Allegion from a “buy” rating to a “neutral” rating in a report on Wednesday, September 6th. StockNews.com assumed coverage on shares of Allegion in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays upped their target price on shares of Allegion from $120.00 to $130.00 in a research report on Monday, July 10th. Finally, Robert W. Baird upped their target price on shares of Allegion from $126.00 to $132.00 in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $123.50.

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.