Mediolanum International Funds Ltd Buys New Stake in Allegion plc (NYSE:ALLE)

Mediolanum International Funds Ltd bought a new stake in Allegion plc (NYSE:ALLEFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,150 shares of the scientific and technical instruments company’s stock, valued at approximately $6,732,000. Mediolanum International Funds Ltd owned 0.06% of Allegion as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in Allegion in the fourth quarter valued at about $28,000. Robeco Institutional Asset Management B.V. boosted its position in Allegion by 19.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 3,823 shares in the last quarter. Larson Financial Group LLC acquired a new position in Allegion in the first quarter valued at about $44,000. Headinvest LLC acquired a new position in Allegion in the third quarter valued at about $48,000. Finally, First Command Advisory Services Inc. acquired a new position in Allegion in the first quarter valued at about $50,000. Institutional investors own 92.21% of the company’s stock.

Insider Activity at Allegion

In related news, SVP Tracy L. Kemp sold 2,194 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total value of $267,624.12. Following the transaction, the senior vice president now directly owns 11,103 shares in the company, valued at $1,354,343.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by company insiders.

Allegion Trading Up 2.0 %

NYSE ALLE traded up $2.29 during trading hours on Wednesday, hitting $116.96. The company’s stock had a trading volume of 1,027,333 shares, compared to its average volume of 695,763. The stock has a fifty day moving average of $119.81 and a 200 day moving average of $125.07. Allegion plc has a twelve month low of $95.94 and a twelve month high of $136.91. The firm has a market capitalization of $10.23 billion, a P/E ratio of 19.08, a PEG ratio of 3.62 and a beta of 1.13. The company has a quick ratio of 0.87, a current ratio of 1.31 and a debt-to-equity ratio of 1.18.

Allegion (NYSE:ALLEGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The business had revenue of $893.90 million for the quarter, compared to analyst estimates of $888.27 million. During the same period in the prior year, the business posted $1.58 earnings per share. Allegion’s revenue was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Allegion plc will post 7.09 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.92 annualized dividend and a yield of 1.64%. Allegion’s dividend payout ratio is currently 31.32%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays lowered shares of Allegion from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $122.00 to $116.00 in a research report on Tuesday, June 4th. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. UBS Group upped their target price on shares of Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company reduced their target price on shares of Allegion from $141.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Allegion has a consensus rating of “Hold” and an average target price of $124.33.

Check Out Our Latest Analysis on Allegion

Allegion Profile

(Free Report)

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

Further Reading

Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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