Park Avenue Securities LLC Trims Stake in Allegion plc (NYSE:ALLE)

Park Avenue Securities LLC lessened its holdings in shares of Allegion plc (NYSE:ALLE) by 58.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,438 shares of the scientific and technical instruments company’s stock after selling 4,822 shares during the quarter. Park Avenue Securities LLC’s holdings in Allegion were worth $463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kestra Advisory Services LLC increased its holdings in Allegion by 16.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 3,688 shares of the scientific and technical instruments company’s stock worth $384,000 after acquiring an additional 515 shares in the last quarter. LPL Financial LLC raised its position in shares of Allegion by 49.1% during the 3rd quarter. LPL Financial LLC now owns 54,909 shares of the scientific and technical instruments company’s stock valued at $5,722,000 after purchasing an additional 18,080 shares during the period. Federated Hermes Inc. lifted its stake in shares of Allegion by 17.8% during the 3rd quarter. Federated Hermes Inc. now owns 6,992 shares of the scientific and technical instruments company’s stock valued at $729,000 after buying an additional 1,058 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Allegion by 2.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 8,031 shares of the scientific and technical instruments company’s stock worth $837,000 after buying an additional 222 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in Allegion by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 39,781 shares of the scientific and technical instruments company’s stock valued at $4,145,000 after acquiring an additional 205 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ALLE. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. Barclays lowered shares of Allegion from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $122.00 to $116.00 in a report on Tuesday, June 4th. Finally, UBS Group upped their target price on shares of Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, Allegion currently has a consensus rating of “Hold” and an average price target of $126.83.

Insider Activity

In other news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total transaction of $267,624.12. Following the transaction, the senior vice president now owns 11,103 shares of the company’s stock, valued at approximately $1,354,343.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Allegion Stock Up 1.6 %

Shares of ALLE opened at $118.15 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.31 and a quick ratio of 0.87. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 3.66 and a beta of 1.16. Allegion plc has a 1 year low of $95.94 and a 1 year high of $136.91. The business’s 50 day simple moving average is $121.22 and its 200-day simple moving average is $125.28.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The company had revenue of $893.90 million for the quarter, compared to the consensus estimate of $888.27 million. During the same quarter in the prior year, the firm earned $1.58 earnings per share. Allegion’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts expect that Allegion plc will post 7.09 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a yield of 1.63%. 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.