BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its stake in Allegion PLC (NYSE:ALLE) by 41.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,778 shares of the scientific and technical instruments company’s stock after selling 4,850 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Allegion were worth $615,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Murphy Pohlad Asset Management LLC bought a new position in shares of Allegion during the 4th quarter valued at $31,000. Financial Gravity Wealth Inc. bought a new position in shares of Allegion during the 1st quarter valued at $56,000. Ledyard National Bank bought a new position in shares of Allegion during the 4th quarter valued at $53,000. Exane Asset Management bought a new position in Allegion in the 4th quarter worth $78,000. Finally, Enlightenment Research LLC bought a new position in Allegion in the 4th quarter worth $88,000. Institutional investors own 94.09% of the company’s stock.
NYSE ALLE traded down $1.55 during midday trading on Wednesday, hitting $99.93. The company had a trading volume of 1,192,400 shares, compared to its average volume of 761,026. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.75 and a quick ratio of 1.14. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 1.88 and a beta of 1.20. Allegion PLC has a fifty-two week low of $74.83 and a fifty-two week high of $102.54.
Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, April 25th. The scientific and technical instruments company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The company had revenue of $655.00 million for the quarter, compared to analyst estimates of $654.66 million. Allegion had a net margin of 15.97% and a return on equity of 72.88%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $0.80 EPS. As a group, sell-side analysts expect that Allegion PLC will post 4.85 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.08 annualized dividend and a yield of 1.08%. Allegion’s dividend payout ratio is 24.00%.
In other news, SVP Tracy L. Kemp sold 2,793 shares of Allegion stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $90.53, for a total transaction of $252,850.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Timothy P. Eckersley sold 11,175 shares of Allegion stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $88.95, for a total transaction of $994,016.25. Following the sale, 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 36,970 shares of company stock worth $3,351,780 over the last 90 days. Company insiders own 0.77% of the company’s stock.
ALLE has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Allegion from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. ValuEngine upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Goldman Sachs Group downgraded shares of Allegion from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $98.00 to $92.00 in a report on Wednesday, February 20th. Morgan Stanley set a $92.00 target price on shares of Allegion and gave the stock a “hold” rating in a report on Wednesday, February 20th. Finally, Imperial Capital reiterated an “in-line” rating and issued a $102.00 target price (up previously from $96.00) on shares of Allegion in a report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $97.00.
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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