Schwab Charles Investment Management Inc. Acquires 23,920 Shares of Allegion (ALLE)

Schwab Charles Investment Management Inc. increased its holdings in Allegion (NYSE:ALLE) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 524,726 shares of the scientific and technical instruments company’s stock after purchasing an additional 23,920 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.55% of Allegion worth $44,754,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Robeco Institutional Asset Management B.V. boosted its holdings in Allegion by 1.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 1,068,251 shares of the scientific and technical instruments company’s stock worth $91,111,000 after purchasing an additional 10,356 shares in the last quarter. Eagle Global Advisors LLC lifted its position in Allegion by 1.1% during the 1st quarter. Eagle Global Advisors LLC now owns 73,100 shares of the scientific and technical instruments company’s stock worth $6,235,000 after acquiring an additional 829 shares during the last quarter. M&T Bank Corp lifted its position in Allegion by 55.9% during the 1st quarter. M&T Bank Corp now owns 33,280 shares of the scientific and technical instruments company’s stock worth $2,838,000 after acquiring an additional 11,938 shares during the last quarter. Mckinley Capital Management LLC Delaware lifted its position in Allegion by 1.5% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 317,370 shares of the scientific and technical instruments company’s stock worth $27,068,000 after acquiring an additional 4,712 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Allegion by 23.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 207,473 shares of the scientific and technical instruments company’s stock worth $17,312,000 after acquiring an additional 40,031 shares during the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

A number of research analysts have weighed in on the stock. Imperial Capital reissued an “outperform” rating and set 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 shares of Allegion from a “hold” rating to a “strong-buy” rating and set a $99.00 target price for the company in a research report on Thursday, February 22nd. Wells Fargo reissued an “outperform” rating and set a $105.00 target price (up previously from $100.00) on shares of Allegion in a research report on Wednesday, February 21st. Berenberg Bank lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Barclays assumed coverage on shares of Allegion in a research report on Thursday, February 15th. They set an “overweight” rating and a $100.00 target price for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Allegion has a consensus rating of “Buy” and a consensus price target of $94.60.

Allegion stock opened at $78.78 on Tuesday. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.36 and a beta of 1.07. The company has a debt-to-equity ratio of 3.20, a current ratio of 1.78 and a quick ratio of 1.17. Allegion has a fifty-two week low of $73.85 and a fifty-two week high of $89.81.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, April 26th. The scientific and technical instruments company reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.04). The firm had revenue of $613.10 million for the quarter, compared to analyst estimates of $605.47 million. Allegion had a return on equity of 102.62% and a net margin of 11.21%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. equities analysts forecast that Allegion will post 4.48 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, June 14th. Allegion’s dividend payout ratio is currently 21.21%.

In other news, VP Tracy L. Kemp sold 14,821 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $86.01, for a total transaction of $1,274,754.21. Following the completion of the transaction, the vice president now owns 18,283 shares of the company’s stock, valued at $1,572,520.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Patrick S. Shannon sold 20,200 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $85.83, for a total transaction of $1,733,766.00. Following the transaction, the chief financial officer now directly owns 68,790 shares of the company’s stock, valued at approximately $5,904,245.70. The disclosure for this sale can be found here. Insiders have sold 57,415 shares of company stock valued at $4,924,641 in the last ninety days. 0.75% of the stock is owned by company insiders.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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