HM Payson & Co. bought a new stake in Allegion PLC (NYSE:ALLE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,643 shares of the scientific and technical instruments company’s stock, valued at approximately $182,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Wealthcare Advisory Partners LLC bought a new position in Allegion during the 1st quarter worth $26,000. Acadian Asset Management LLC bought a new position in shares of Allegion in the second quarter worth $33,000. HBK Sorce Advisory LLC bought a new position in shares of Allegion in the second quarter worth $40,000. Golden State Wealth Management LLC grew its stake in shares of Allegion by 1,923.1% in the second quarter. Golden State Wealth Management LLC now owns 526 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 500 shares in the last quarter. Finally, Pathstone Family Office LLC grew its stake in shares of Allegion by 103.4% in the second quarter. Pathstone Family Office LLC now owns 590 shares of the scientific and technical instruments company’s stock worth $66,000 after purchasing an additional 300 shares in the last quarter. 92.40% of the stock is currently owned by institutional investors.
Shares of Allegion stock traded up $1.94 on Monday, reaching $104.44. The stock had a trading volume of 145,605 shares, compared to its average volume of 573,953. The company has a 50 day moving average price of $98.05 and a 200 day moving average price of $99.65. The company has a quick ratio of 1.12, a current ratio of 1.71 and a debt-to-equity ratio of 2.10. Allegion PLC has a 1 year low of $74.83 and a 1 year high of $111.99. The stock has a market capitalization of $9.59 billion, a P/E ratio of 23.21, a P/E/G ratio of 1.91 and a beta of 1.19.
Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, July 25th. The scientific and technical instruments company reported $1.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.05). The company had revenue of $731.20 million for the quarter, compared to analyst estimates of $750.76 million. Allegion had a return on equity of 68.47% and a net margin of 15.65%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 earnings per share. On average, analysts forecast that Allegion PLC will post 4.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, September 13th. Allegion’s dividend payout ratio is presently 24.00%.
Several research analysts have recently issued reports on the company. ValuEngine cut Allegion from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Imperial Capital raised their target price on Allegion from $102.00 to $105.00 and gave the company an “in-line” rating in a research note on Tuesday, July 30th. Barclays raised their target price on Allegion from $105.00 to $114.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Credit Suisse Group downgraded shares of Allegion from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $108.00 to $112.00 in a research report on Monday, July 8th. They noted that the move was a valuation call. Finally, Bank of America raised their price objective on shares of Allegion from $114.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $105.88.
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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