Vanguard Group Inc. lessened its stake in shares of Allegion PLC (NYSE:ALLE) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,131,485 shares of the scientific and technical instruments company’s stock after selling 102,528 shares during the period. Vanguard Group Inc. owned 0.11% of Allegion worth $1,120,036,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC acquired a new stake in shares of Allegion in the 1st quarter valued at $26,000. Acadian Asset Management LLC acquired a new position in Allegion during the 2nd quarter valued at about $33,000. Golden State Wealth Management LLC boosted its stake in Allegion by 1,923.1% during the 2nd quarter. Golden State Wealth Management LLC now owns 526 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 500 shares during the last quarter. Pathstone Family Office LLC boosted its stake in Allegion by 103.4% during the 2nd quarter. Pathstone Family Office LLC now owns 590 shares of the scientific and technical instruments company’s stock valued at $66,000 after purchasing an additional 300 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in Allegion by 10.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,160 shares of the scientific and technical instruments company’s stock valued at $128,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 92.40% of the company’s stock.
ALLE has been the subject of a number of analyst reports. Bank of America lifted their price target on Allegion from $114.00 to $116.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Wells Fargo & Co lifted their price target on Allegion from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. ValuEngine downgraded Allegion from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Barclays boosted their target price on Allegion from $105.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, Imperial Capital boosted their target price on Allegion from $102.00 to $105.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $105.88.
Allegion (NYSE:ALLE) last issued its earnings results on Thursday, July 25th. The scientific and technical instruments company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.05). Allegion had a net margin of 15.65% and a return on equity of 68.47%. The business had revenue of $731.20 million for the quarter, compared to the consensus estimate of $750.76 million. During the same period in the previous year, the firm earned $1.19 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Allegion PLC will post 4.84 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.08 annualized dividend and a dividend yield of 1.06%. Allegion’s payout ratio is currently 24.00%.
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile 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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