LPL Financial LLC increased its holdings in shares of Allegion plc (NYSE:ALLE – Get Rating) by 64.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,448 shares of the scientific and technical instruments company’s stock after purchasing an additional 15,018 shares during the quarter. LPL Financial LLC’s holdings in Allegion were worth $4,047,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALLE. U.S. Capital Wealth Advisors LLC purchased a new stake in Allegion in the 4th quarter worth $26,000. CWM LLC lifted its position in shares of Allegion by 56.1% in the third quarter. CWM LLC now owns 437 shares of the scientific and technical instruments company’s stock worth $39,000 after buying an additional 157 shares in the last quarter. Wipfli Financial Advisors LLC bought a new position in Allegion during the third quarter valued at approximately $40,000. Quadrant Capital Group LLC grew its holdings in Allegion by 29.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 453 shares of the scientific and technical instruments company’s stock valued at $41,000 after buying an additional 102 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Allegion by 194.2% in the 3rd quarter. Bessemer Group Inc. now owns 556 shares of the scientific and technical instruments company’s stock worth $50,000 after acquiring an additional 367 shares during the last quarter. Institutional investors own 92.78% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Morgan Stanley increased their target price on Allegion from $108.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, February 23rd. StockNews.com started coverage on shares of Allegion in a report on Thursday. They issued a “hold” rating on the stock. Wells Fargo & Company lowered their price target on shares of Allegion from $130.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday, April 13th. Mizuho boosted their price objective on Allegion from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Finally, Barclays lowered their price objective on Allegion from $129.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $120.22.
Allegion Trading Up 2.4 %
Allegion (NYSE:ALLE – Get Rating) last released its earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.23. The business had revenue of $923.00 million for the quarter, compared to analyst estimates of $846.29 million. Allegion had a return on equity of 61.34% and a net margin of 14.07%. The business’s revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 earnings per share. On average, sell-side analysts expect that Allegion plc will post 6.62 earnings per share for the current year.
Allegion Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.80 annualized dividend and a yield of 1.65%. Allegion’s dividend payout ratio (DPR) is 32.55%.
Insiders Place Their Bets
In other news, SVP Jeffrey N. Braun sold 2,278 shares of Allegion stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $110.34, for a total transaction of $251,354.52. Following the completion of the sale, the senior vice president now owns 11,336 shares of the company’s stock, valued at $1,250,814.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.
Allegion Company Profile
Allegion Plc engages in the provision of security products and solutions that keep people safe, secure, and productive. It operates through the Allegion Americas and Allegion International segments. Its brands include CISA, Interflex, LCN, Schlage, SimonsVoss, and Von Duprin. The company was founded on May 9, 2013 and is headquartered in Dublin, Ireland.
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