Sagespring Wealth Partners LLC Boosts Stock Position in Allegion PLC (NYSE:ALLE)

Sagespring Wealth Partners LLC increased its holdings in Allegion PLC (NYSE:ALLEFree Report) by 28.8% during the 1st quarter, Holdings Channel reports. The firm owned 2,557 shares of the scientific and technical instruments company’s stock after buying an additional 572 shares during the period. Sagespring Wealth Partners LLC’s holdings in Allegion were worth $334,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ALLE. Millstone Evans Group LLC purchased a new position in shares of Allegion during the fourth quarter valued at about $28,000. Colonial Trust Co SC boosted its position in Allegion by 192.9% during the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 164 shares in the last quarter. Atala Financial Inc purchased a new position in shares of Allegion during the 4th quarter worth approximately $35,000. GeoWealth Management LLC grew its holdings in shares of Allegion by 259.3% during the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company’s stock worth $40,000 after acquiring an additional 223 shares during the period. Finally, Private Trust Co. NA raised its position in shares of Allegion by 56.1% in the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock worth $42,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALLE shares. Barclays lifted their price target on Allegion from $126.00 to $128.00 and gave the company an “underweight” rating in a research report on Friday, April 25th. Robert W. Baird boosted their target price on shares of Allegion from $144.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $140.40.

Get Our Latest Report on Allegion

Allegion Stock Up 0.3%

ALLE stock opened at $136.71 on Friday. The business has a 50 day moving average of $137.33 and a 200 day moving average of $132.94. The firm has a market cap of $11.76 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 3.85 and a beta of 1.02. Allegion PLC has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a quick ratio of 1.51, a current ratio of 2.17 and a debt-to-equity ratio of 1.23.

Allegion (NYSE:ALLEGet Free Report) last issued its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.18. The firm had revenue of $941.90 million during the quarter, compared to the consensus estimate of $918.53 million. Allegion had a return on equity of 44.82% and a net margin of 16.28%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $1.55 earnings per share. On average, research analysts forecast that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 1.49%. 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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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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