M&T Bank Corp reduced its holdings in Allegion PLC (NYSE:ALLE) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,342 shares of the scientific and technical instruments company’s stock after selling 1,305 shares during the quarter. M&T Bank Corp’s holdings in Allegion were worth $1,698,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in ALLE. Whittier Trust Co. raised its position in Allegion by 94.2% in the 3rd quarter. Whittier Trust Co. now owns 1,237 shares of the scientific and technical instruments company’s stock worth $107,000 after purchasing an additional 600 shares during the last quarter. YorkBridge Wealth Partners LLC bought a new position in Allegion in the 3rd quarter worth approximately $107,000. QS Investors LLC raised its position in Allegion by 1.2% in the 2nd quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock worth $106,000 after purchasing an additional 16 shares during the last quarter. Zions Bancorporation raised its position in Allegion by 141.9% in the 3rd quarter. Zions Bancorporation now owns 1,587 shares of the scientific and technical instruments company’s stock worth $137,000 after purchasing an additional 931 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in Allegion in the 3rd quarter worth approximately $211,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on ALLE. Barclays began coverage on shares of Allegion in a research report on Thursday. They issued an “overweight” rating and a $100.00 price objective for the company. Zacks Investment Research cut shares of Allegion from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Wolfe Research upgraded shares of Allegion from a “market perform” rating to an “outperform” rating in a research report on Monday, October 30th. Finally, BidaskClub cut shares of Allegion from a “buy” rating to a “hold” rating in a research report on Saturday, October 28th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $91.80.
Shares of Allegion PLC (NYSE ALLE) opened at $82.72 on Friday. The company has a market cap of $7,861.96, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. Allegion PLC has a 1 year low of $72.45 and a 1 year high of $89.81. The company has a current ratio of 2.14, a quick ratio of 1.54 and a debt-to-equity ratio of 3.79.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.21 per share. This is a boost from Allegion’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.02%. Allegion’s payout ratio is presently 18.18%.
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Allegion Company Profile
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.
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