CX Institutional Takes $130,000 Position in Allegion plc (NYSE:ALLE)

CX Institutional bought a new stake in Allegion plc (NYSE:ALLE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 998 shares of the scientific and technical instruments company’s stock, valued at approximately $130,000.

A number of other institutional investors also recently bought and sold shares of the company. Douglass Winthrop Advisors LLC lifted its holdings in Allegion by 0.4% in 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 acquiring an additional 80 shares during the period. Waterloo Capital L.P. lifted its holdings in Allegion by 1.2% in 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 acquiring an additional 83 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its holdings in Allegion by 2.4% in 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 acquiring an additional 83 shares during the period. IFP Advisors Inc lifted its holdings in Allegion by 23.2% in the fourth quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company’s stock valued at $59,000 after acquiring an additional 85 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Allegion by 33.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock worth $53,000 after buying an additional 101 shares during the period. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

NYSE:ALLE opened at $135.18 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The stock has a 50-day moving average price of $136.50 and a 200 day moving average price of $132.92. The stock has a market capitalization of $11.63 billion, a P/E ratio of 19.82, a P/E/G ratio of 3.97 and a beta of 1.02.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.18. The firm had revenue of $941.90 million during the quarter, compared to analysts’ expectations of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.55 earnings per share. Equities research analysts forecast that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.51%. The ex-dividend date is Friday, June 13th. Allegion’s dividend payout ratio is presently 28.65%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Robert W. Baird raised their price objective on Allegion from $144.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Barclays raised their price objective on Allegion from $126.00 to $128.00 and gave the stock an “underweight” rating in a research note on Friday, April 25th. Wells Fargo & Company decreased their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Wall Street Zen downgraded Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Morgan Stanley raised their price objective on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $140.40.

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.