Envestnet Asset Management Inc. Boosts Stake in Allegion PLC $ALLE

Envestnet Asset Management Inc. boosted its position in Allegion PLC (NYSE:ALLE) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 533,666 shares of the scientific and technical instruments company’s stock after purchasing an additional 6,328 shares during the period. Envestnet Asset Management Inc. owned approximately 0.62% of Allegion worth $94,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Westside Investment Management Inc. boosted its holdings in Allegion by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 70 shares during the period. First Horizon Corp purchased a new stake in shares of Allegion during the third quarter valued at $26,000. Atlantic Union Bankshares Corp bought a new position in shares of Allegion in the third quarter worth about $29,000. CYBER HORNET ETFs LLC purchased a new position in Allegion in the 2nd quarter worth about $33,000. Finally, Spire Wealth Management lifted its holdings in Allegion by 78.0% during the 2nd quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 103 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research report on Wednesday, January 21st. Wells Fargo & Company restated a “positive” rating on shares of Allegion in a report on Tuesday, December 16th. Barclays decreased their target price on Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 7th. Finally, Robert W. Baird increased their price target on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $174.25.

Allegion Stock Up 2.3%

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

Allegion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $0.55 dividend. This is a boost from Allegion’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, March 13th. This represents a $2.20 dividend on an annualized basis and a yield of 1.2%. Allegion’s dividend payout ratio (DPR) is 27.60%.

About Allegion

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.