International Assets Investment Management LLC Buys New Position in Allegion plc (NYSE:ALLE)

International Assets Investment Management LLC bought a new stake in Allegion plc (NYSE:ALLE) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 457,555 shares of the scientific and technical instruments company’s stock, valued at approximately $666,840,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners raised its stake in Allegion by 1.5% in the 1st quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock valued at $673,441,000 after purchasing an additional 72,773 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Allegion by 2.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock valued at $442,019,000 after purchasing an additional 91,011 shares during the last quarter. Van ECK Associates Corp raised its stake in Allegion by 2.8% in the 1st quarter. Van ECK Associates Corp now owns 3,306,600 shares of the scientific and technical instruments company’s stock valued at $445,432,000 after purchasing an additional 90,951 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Allegion by 7.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock valued at $197,575,000 after purchasing an additional 120,870 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Allegion by 1.4% in the 1st quarter. Russell Investments Group Ltd. now owns 856,816 shares of the scientific and technical instruments company’s stock valued at $115,411,000 after purchasing an additional 11,947 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Mizuho upped their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays upped their price objective on shares of Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $142.25.

Allegion Stock Up 0.2 %

ALLE opened at $150.86 on Thursday. The firm has a 50 day moving average price of $141.86 and a 200 day moving average price of $130.00. The company has a market cap of $13.19 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12. Allegion plc has a 1 year low of $95.94 and a 1 year high of $156.10. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66.

Allegion (NYSE:ALLE) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 EPS. Sell-side analysts expect that Allegion plc will post 7.26 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Friday, September 20th. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.