American International Group Inc. reduced its stake in Allegion plc (NYSE:ALLE – Get Rating) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,126 shares of the scientific and technical instruments company’s stock after selling 154 shares during the quarter. American International Group Inc.’s holdings in Allegion were worth $2,540,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of ALLE. Raymond James Financial Services Advisors Inc. raised its holdings in Allegion by 27.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,068 shares of the scientific and technical instruments company’s stock valued at $996,000 after acquiring an additional 1,944 shares during the period. American Century Companies Inc. increased its holdings in shares of Allegion by 11.8% during the first quarter. American Century Companies Inc. now owns 5,825 shares of the scientific and technical instruments company’s stock worth $639,000 after purchasing an additional 614 shares during the period. HighTower Advisors LLC increased its holdings in shares of Allegion by 7.9% during the first quarter. HighTower Advisors LLC now owns 6,947 shares of the scientific and technical instruments company’s stock worth $759,000 after purchasing an additional 510 shares during the period. Private Advisor Group LLC increased its holdings in shares of Allegion by 35.2% during the first quarter. Private Advisor Group LLC now owns 2,090 shares of the scientific and technical instruments company’s stock worth $229,000 after purchasing an additional 544 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Allegion by 88.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,336 shares of the scientific and technical instruments company’s stock worth $366,000 after purchasing an additional 1,564 shares during the period. 92.78% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. The Goldman Sachs Group lowered their target price on shares of Allegion from $138.00 to $119.00 and set a “buy” rating on the stock in a report on Friday, April 14th. Wells Fargo & Company lowered their target price on shares of Allegion from $130.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, April 13th. StockNews.com started coverage on shares of Allegion in a report on Thursday, May 18th. They set a “hold” rating on the stock. Morgan Stanley increased their price target on shares of Allegion from $108.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 23rd. Finally, Robert W. Baird reduced their price target on shares of Allegion from $130.00 to $126.00 in a research report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $120.22.
Allegion Stock Down 0.7 %
Allegion (NYSE:ALLE – Get Rating) last issued its quarterly earnings data 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%. Allegion’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. On average, equities analysts predict that Allegion plc will post 6.62 EPS for the current fiscal year.
Allegion Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.66%. Allegion’s dividend payout ratio is currently 32.55%.
Insider Buying and Selling
In related news, SVP Jeffrey N. Braun sold 2,278 shares of the business’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $110.34, for a total transaction of $251,354.52. Following the sale, the senior vice president now owns 11,336 shares in the company, valued at approximately $1,250,814.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.79% of the stock is currently owned by corporate insiders.
Allegion 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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