JLB & Associates Inc. boosted its stake in shares of Allegion plc (NYSE:ALLE – Get Rating) by 6.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,543 shares of the scientific and technical instruments company's stock after buying an additional 1,386 shares during the period. JLB & Associates Inc.'s holdings in Allegion were worth $2,109,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in Allegion by 7.6% in the fourth quarter. State Street Corp now owns 4,644,285 shares of the scientific and technical instruments company's stock valued at $615,089,000 after purchasing an additional 327,677 shares during the period. Boston Partners raised its position in Allegion by 178.8% in the first quarter. Boston Partners now owns 2,720,389 shares of the scientific and technical instruments company's stock valued at $298,583,000 after purchasing an additional 1,744,674 shares during the period. AKO Capital LLP raised its position in Allegion by 55.0% in the first quarter. AKO Capital LLP now owns 1,792,835 shares of the scientific and technical instruments company's stock valued at $196,817,000 after purchasing an additional 636,425 shares during the period. Nordea Investment Management AB purchased a new stake in Allegion in the first quarter valued at $168,938,000. Finally, Intermede Investment Partners Ltd raised its holdings in shares of Allegion by 0.4% in the 1st quarter. Intermede Investment Partners Ltd now owns 1,155,068 shares of the scientific and technical instruments company's stock valued at $126,803,000 after buying an additional 4,481 shares during the period. Institutional investors and hedge funds own 91.06% of the company's stock.
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Wall Street Analysts Forecast Growth
ALLE has been the topic of several research analyst reports. Bank of America downgraded Allegion from a "buy" rating to an "underperform" rating and cut their price objective for the company from $130.00 to $110.00 in a report on Monday, July 11th. Wells Fargo & Company cut their price target on Allegion from $115.00 to $114.00 and set an "overweight" rating on the stock in a report on Monday, August 1st. The Goldman Sachs Group cut their price target on Allegion from $140.00 to $113.00 and set a "buy" rating on the stock in a report on Thursday, June 23rd. Morgan Stanley upped their price target on Allegion from $115.00 to $117.00 and gave the stock an "equal weight" rating in a report on Friday, July 29th. Finally, Barclays cut their price target on Allegion from $140.00 to $125.00 and set an "overweight" rating on the stock in a report on Friday, July 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $122.00.
Allegion Stock Performance
Allegion stock traded down $1.07 during mid-day trading on Tuesday, reaching $89.12. 39,549 shares of the company were exchanged, compared to its average volume of 840,416. Allegion plc has a twelve month low of $89.01 and a twelve month high of $138.17. The firm's 50-day simple moving average is $99.87 and its two-hundred day simple moving average is $105.20. The company has a debt-to-equity ratio of 2.59, a quick ratio of 2.17 and a current ratio of 2.87. The firm has a market cap of $7.83 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06.
Allegion (NYSE:ALLE – Get Rating) last issued its earnings results on Thursday, July 28th. The scientific and technical instruments company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.04. The business had revenue of $773.10 million during the quarter, compared to the consensus estimate of $771.68 million. Allegion had a return on equity of 57.91% and a net margin of 15.89%. The company's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 EPS. Equities analysts predict that Allegion plc will post 5.4 earnings per share for the current fiscal year.
Allegion Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, September 15th. Allegion's payout ratio is currently 31.54%.
Allegion Company Profile
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Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, 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 and door systems; and other accessories.
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