Ethic Inc. boosted its stake in shares of Allegion plc (NYSE:ALLE) by 71.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,895 shares of the scientific and technical instruments company’s stock after buying an additional 1,207 shares during the period. Ethic Inc.’s holdings in Allegion were worth $403,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. APG Asset Management N.V. raised its holdings in Allegion by 3.5% during the 1st quarter. APG Asset Management N.V. now owns 5,411,170 shares of the scientific and technical instruments company’s stock worth $578,364,000 after buying an additional 185,180 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Allegion by 15.1% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,263,638 shares of the scientific and technical instruments company’s stock worth $284,359,000 after buying an additional 297,424 shares during the period. Geode Capital Management LLC raised its holdings in Allegion by 0.4% during the 1st quarter. Geode Capital Management LLC now owns 1,575,317 shares of the scientific and technical instruments company’s stock worth $197,368,000 after buying an additional 5,760 shares during the period. Northern Trust Corp grew its stake in Allegion by 12.7% during the 1st quarter. Northern Trust Corp now owns 1,199,805 shares of the scientific and technical instruments company’s stock valued at $150,720,000 after acquiring an additional 135,001 shares in the last quarter. Finally, Intermede Investment Partners Ltd grew its stake in Allegion by 4.2% during the 2nd quarter. Intermede Investment Partners Ltd now owns 1,100,938 shares of the scientific and technical instruments company’s stock valued at $153,361,000 after acquiring an additional 44,157 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.
In related news, CEO David D. Petratis sold 2,841 shares of the business’s stock in a transaction that occurred on Monday, July 26th. The stock was sold at an average price of $139.28, for a total value of $395,694.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 8,523 shares of company stock valued at $1,193,078. 0.67% of the stock is currently owned by company insiders.
Allegion (NYSE:ALLE) last announced its quarterly earnings results on Wednesday, July 21st. The scientific and technical instruments company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.03. The business had revenue of $746.90 million during the quarter, compared to analysts’ expectations of $711.94 million. Allegion had a return on equity of 65.52% and a net margin of 16.12%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 EPS. On average, analysts predict that Allegion plc will post 5.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Thursday, September 16th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, September 15th. This represents a $1.44 annualized dividend and a dividend yield of 1.04%. Allegion’s payout ratio is 28.18%.
Several equities analysts have weighed in on ALLE shares. The Goldman Sachs Group raised Allegion from a “neutral” rating to a “buy” rating and lifted their target price for the company from $158.00 to $174.00 in a research note on Friday, September 10th. Zacks Investment Research raised Allegion from a “hold” rating to a “buy” rating and set a $149.00 target price on the stock in a research note on Monday, August 30th. Robert W. Baird reaffirmed a “hold” rating on shares of Allegion in a research note on Thursday, July 29th. Morgan Stanley lifted their target price on Allegion from $149.00 to $151.00 and gave the company an “equal weight” rating in a research note on Friday, July 23rd. Finally, Credit Suisse Group lifted their target price on Allegion from $143.00 to $144.00 and gave the company a “neutral” rating in a research note on Friday, July 23rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $147.45.
Allegion Company Profile
Allegion Plc provides security products and solutions that keep people safe, secure and productiv. It operates through the following three geographic segments: Americas; Middle East, India, and Africa (EMEIA); and Asia Pacific. The Americas segment sells a range of products and solutions such locks, locksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products, and access control and time and attendance systems.
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