Parsons Capital Management Inc. RI lowered its position in shares of Allegion PLC (NYSE:ALLE) by 7.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,959 shares of the scientific and technical instruments company’s stock after selling 224 shares during the period. Parsons Capital Management Inc. RI’s holdings in Allegion were worth $268,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in Allegion in the first quarter worth $874,000. Virginia Retirement Systems ET AL acquired a new position in Allegion in the first quarter worth $317,000. Creative Planning acquired a new position in Allegion in the first quarter worth $219,000. Ardevora Asset Management LLP acquired a new position in Allegion in the first quarter worth $34,796,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Allegion in the first quarter worth $471,000. Institutional investors own 94.09% of the company’s stock.
Shares of ALLE traded down $1.55 during midday trading on Wednesday, hitting $99.93. 1,192,400 shares of the stock traded hands, compared to its average volume of 761,026. Allegion PLC has a 1-year low of $74.83 and a 1-year high of $102.54. The company has a market cap of $9.53 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 1.88 and a beta of 1.20. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.14 and a current ratio of 1.75.
Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, April 25th. The scientific and technical instruments company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. Allegion had a net margin of 15.97% and a return on equity of 72.88%. The company had revenue of $655.00 million during the quarter, compared to the consensus estimate of $654.66 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts predict that Allegion PLC will post 4.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion’s dividend payout ratio is currently 24.00%.
In related news, VP Chris E. Muhlenkamp sold 12,034 shares of Allegion stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $88.96, for a total transaction of $1,070,544.64. Following the sale, the vice president now directly owns 27,289 shares in the company, valued at $2,427,629.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jeffrey N. Braun sold 2,211 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $90.29, for a total transaction of $199,631.19. Following the completion of the sale, the senior vice president now owns 11,292 shares in the company, valued at $1,019,554.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,970 shares of company stock worth $3,351,780. Company insiders own 0.77% of the company’s stock.
ALLE has been the subject of a number of research reports. Zacks Investment Research raised shares of Allegion from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. ValuEngine raised 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 decreased their price objective for the stock from $98.00 to $92.00 in a report on Wednesday, February 20th. Morgan Stanley set a $92.00 price objective on shares of Allegion and gave the stock a “hold” rating in a report on Wednesday, February 20th. Finally, Imperial Capital reaffirmed an “in-line” rating and issued a $102.00 price objective (up previously from $96.00) on shares of Allegion in a report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target 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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