Fred Alger Management Inc. lessened its holdings in shares of Allegion PLC (NYSE:ALLE) by 35.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,670 shares of the scientific and technical instruments company’s stock after selling 3,128 shares during the period. Fred Alger Management Inc.’s holdings in Allegion were worth $451,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Allegion by 13.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 11,922 shares of the scientific and technical instruments company’s stock valued at $949,000 after purchasing an additional 1,440 shares in the last quarter. AMP Capital Investors Ltd lifted its holdings in shares of Allegion by 20.3% during the 4th quarter. AMP Capital Investors Ltd now owns 96,996 shares of the scientific and technical instruments company’s stock valued at $7,718,000 after purchasing an additional 16,340 shares in the last quarter. Precision Path Capital LP bought a new position in shares of Allegion during the 4th quarter valued at about $6,763,000. MANA Advisors LLC bought a new position in shares of Allegion during the 4th quarter valued at about $478,000. Finally, Renaissance Technologies LLC raised its position in Allegion by 160.0% in the 4th quarter. Renaissance Technologies LLC now owns 336,400 shares of the scientific and technical instruments company’s stock valued at $26,764,000 after buying an additional 207,000 shares during the last quarter. Institutional investors and hedge funds own 92.20% of the company’s stock.
Shares of Allegion stock opened at $84.75 on Friday. The company has a market capitalization of $8,161.20, a P/E ratio of 21.40, a PEG ratio of 1.55 and a beta of 1.05. Allegion PLC has a 52-week low of $74.40 and a 52-week high of $89.81. The company has a current ratio of 2.24, a quick ratio of 1.72 and a debt-to-equity ratio of 3.56.
Allegion (NYSE:ALLE) last posted its quarterly earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.17. The firm had revenue of $623.00 million for the quarter, compared to analyst estimates of $605.13 million. Allegion had a return on equity of 126.46% and a net margin of 11.35%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. research analysts forecast that Allegion PLC will post 4.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were given a dividend of $0.21 per share. This is a positive change from Allegion’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.84 annualized dividend and a dividend yield of 0.99%. Allegion’s payout ratio is 21.21%.
A number of brokerages recently issued reports on ALLE. Imperial Capital reissued an “outperform” rating and issued a $94.00 target price (up previously from $85.00) on shares of Allegion in a research report on Wednesday, February 21st. Zacks Investment Research raised Allegion from a “hold” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a research report on Thursday, February 22nd. Wells Fargo reissued an “outperform” rating and issued a $105.00 target price (up previously from $100.00) on shares of Allegion in a research report on Wednesday, February 21st. Finally, Barclays began coverage on Allegion in a research report on Thursday, February 15th. They issued an “overweight” rating and a $100.00 target price on the stock. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Allegion currently has a consensus rating of “Buy” and an average target price of $95.83.
In other Allegion news, insider Chris E. Muhlenkamp sold 3,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.33, for a total transaction of $340,485.52. Following the transaction, the insider now owns 17,527 shares of the company’s stock, valued at approximately $1,513,105.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Tracy L. Kemp sold 14,821 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $86.01, for a total value of $1,274,754.21. Following the transaction, the vice president now directly owns 18,283 shares in the company, valued at approximately $1,572,520.83. The disclosure for this sale can be found here. Insiders have sold a total of 57,415 shares of company stock worth $4,924,641 in the last ninety days. Insiders own 0.64% of the company’s stock.
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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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