Commonwealth Equity Services LLC grew its position in shares of Allegion PLC (NYSE:ALLE) by 18.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,984 shares of the scientific and technical instruments company’s stock after acquiring an additional 764 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Allegion were worth $397,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB bought a new stake in Allegion during the third quarter worth $83,058,000. BlackRock Inc. grew its holdings in Allegion by 14.3% during the fourth quarter. BlackRock Inc. now owns 6,900,253 shares of the scientific and technical instruments company’s stock worth $550,018,000 after buying an additional 861,515 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in Allegion by 43.8% in the third quarter. Brown Brothers Harriman & Co. now owns 2,413,198 shares of the scientific and technical instruments company’s stock worth $218,563,000 after purchasing an additional 734,596 shares during the last quarter. AKO Capital LLP boosted its position in Allegion by 31.6% in the fourth quarter. AKO Capital LLP now owns 1,455,574 shares of the scientific and technical instruments company’s stock worth $116,024,000 after purchasing an additional 349,663 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in Allegion by 1,133.8% in the third quarter. Janus Henderson Group PLC now owns 253,689 shares of the scientific and technical instruments company’s stock worth $22,977,000 after purchasing an additional 233,128 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.
Shares of NYSE ALLE traded down $0.15 during trading on Friday, reaching $93.75. 1,373,453 shares of the stock traded hands, compared to its average volume of 672,023. The stock has a market capitalization of $8.86 billion, a PE ratio of 20.83, a P/E/G ratio of 2.74 and a beta of 1.18. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.79 and a quick ratio of 1.25. Allegion PLC has a 52-week low of $73.85 and a 52-week high of $95.27.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.27 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.15%. Allegion’s dividend payout ratio is currently 24.00%.
Several research analysts have weighed in on the company. Zacks Investment Research raised Allegion from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Goldman Sachs Group cut Allegion from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $98.00 to $92.00 in a research report on Wednesday, February 20th. Morgan Stanley set a $92.00 price target on Allegion and gave the company a “hold” rating in a research report on Wednesday, February 20th. Finally, ValuEngine raised Allegion from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $94.40.
In other Allegion news, insider Patrick S. Shannon sold 34,898 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $87.44, for a total value of $3,051,481.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Timothy P. Eckersley sold 11,175 shares of the stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $88.95, for a total value of $994,016.25. Following the transaction, the vice president now owns 27,643 shares in the company, valued at $2,458,844.85. The disclosure for this sale can be found here. Insiders sold a total of 67,129 shares of company stock worth $5,928,592 over the last 90 days. Corporate insiders own 0.75% of the company’s stock.
Allegion Company Profile
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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