Allianz Asset Management GmbH Has $17.66 Million Stock Position in Allegion PLC $ALLE

Allianz Asset Management GmbH reduced its holdings in Allegion PLC (NYSE:ALLE) by 12.8% during the 3rd quarter, Holdings Channel reports. The fund owned 99,601 shares of the scientific and technical instruments company’s stock after selling 14,645 shares during the quarter. Allianz Asset Management GmbH’s holdings in Allegion were worth $17,664,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Atlantic Union Bankshares Corp bought a new stake in shares of Allegion during the third quarter worth $29,000. AGF Management Ltd. acquired a new position in Allegion during the 3rd quarter worth about $3,455,000. Convergence Investment Partners LLC bought a new stake in Allegion during the 3rd quarter worth about $1,299,000. Independent Advisor Alliance grew its holdings in Allegion by 17.7% during the 3rd quarter. Independent Advisor Alliance now owns 1,804 shares of the scientific and technical instruments company’s stock worth $320,000 after acquiring an additional 271 shares during the last quarter. Finally, National Pension Service increased its position in Allegion by 449.4% in the 3rd quarter. National Pension Service now owns 7,785 shares of the scientific and technical instruments company’s stock valued at $1,381,000 after acquiring an additional 6,368 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Allegion Price Performance

Allegion stock opened at $179.91 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $15.48 billion, a P/E ratio of 24.35, a PEG ratio of 3.28 and a beta of 1.03. The business has a 50-day moving average of $163.32 and a 200-day moving average of $167.53. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $180.68.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.55 dividend. This is a positive change from Allegion’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, March 13th. This represents a $2.20 annualized dividend and a dividend yield of 1.2%. Allegion’s dividend payout ratio (DPR) is presently 27.60%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ALLE shares. Barclays reduced their price objective on Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research note on Wednesday, January 21st. Robert W. Baird raised their price target on Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Finally, Wells Fargo & Company reissued a “positive” rating on shares of Allegion in a report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Allegion has a consensus rating of “Hold” and a consensus target price of $174.25.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.