LS Investment Advisors LLC boosted its stake in Allegion PLC (NYSE:ALLE) by 12.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,885 shares of the scientific and technical instruments company’s stock after buying an additional 326 shares during the period. LS Investment Advisors LLC’s holdings in Allegion PLC were worth $218,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its position in shares of Allegion PLC by 213.9% in the fourth quarter. FMR LLC now owns 4,026,502 shares of the scientific and technical instruments company’s stock valued at $257,697,000 after buying an additional 2,743,842 shares during the period. Bessemer Group Inc. raised its position in shares of Allegion PLC by 5,716.7% in the fourth quarter. Bessemer Group Inc. now owns 880,945 shares of the scientific and technical instruments company’s stock valued at $56,382,000 after buying an additional 865,800 shares during the period. Norges Bank purchased a new position in shares of Allegion PLC during the fourth quarter valued at $41,760,000. Arrowpoint Asset Management LLC purchased a new position in shares of Allegion PLC during the fourth quarter valued at $25,619,000. Finally, Scopus Asset Management L.P. purchased a new position in shares of Allegion PLC during the third quarter valued at $25,841,000. 90.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of Allegion PLC (NYSE:ALLE) opened at 79.38 on Friday. Allegion PLC has a one year low of $61.47 and a one year high of $82.00. The firm has a market capitalization of $7.56 billion, a P/E ratio of 32.15 and a beta of 1.07. The company has a 50-day moving average price of $77.51 and a 200 day moving average price of $71.33.
Allegion PLC (NYSE:ALLE) last issued its earnings results on Thursday, April 27th. The scientific and technical instruments company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. The company had revenue of $548.80 million during the quarter, compared to analyst estimates of $536.97 million. Allegion PLC had a net margin of 10.24% and a return on equity of 263.12%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. Analysts expect that Allegion PLC will post $3.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, June 13th. Allegion PLC’s payout ratio is presently 20.25%.
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Several research analysts recently weighed in on ALLE shares. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $89.00 target price on shares of Allegion PLC in a research report on Friday, April 28th. Robert W. Baird lowered Allegion PLC from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $80.00 to $85.00 in a research report on Friday, April 28th. Zacks Investment Research raised Allegion PLC from a “sell” rating to a “hold” rating in a research report on Thursday, March 23rd. Finally, Imperial Capital increased their target price on Allegion PLC from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Allegion PLC has a consensus rating of “Buy” and a consensus price target of $83.50.
In related news, insider Jeffrey M. Wood sold 4,071 shares of Allegion PLC stock in a transaction on Friday, April 28th. The shares were sold at an average price of $79.87, for a total value of $325,150.77. Following the completion of the sale, the insider now owns 1,938 shares of the company’s stock, valued at approximately $154,788.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jeffrey N. Braun sold 7,455 shares of Allegion PLC stock in a transaction on Friday, April 28th. The shares were sold at an average price of $79.46, for a total transaction of $592,374.30. Following the completion of the sale, the senior vice president now directly owns 7,250 shares of the company’s stock, valued at approximately $576,085. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.
Allegion PLC 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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