Commonwealth Equity Services LLC Sells 341 Shares of Allegion plc (NYSE:ALLE)

Commonwealth Equity Services LLC lowered its stake in shares of Allegion plc (NYSE:ALLE) by 4.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,940 shares of the scientific and technical instruments company’s stock after selling 341 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Allegion were worth $938,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ALLE. Norges Bank bought a new stake in Allegion during the fourth quarter worth approximately $110,740,000. APG Asset Management US Inc. acquired a new position in shares of Allegion during the fourth quarter worth approximately $66,449,000. Hawk Ridge Capital Management LP lifted its holdings in shares of Allegion by 39.8% during the fourth quarter. Hawk Ridge Capital Management LP now owns 712,774 shares of the scientific and technical instruments company’s stock worth $90,301,000 after buying an additional 202,774 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Allegion during the fourth quarter worth approximately $16,902,000. Finally, Morningstar Investment Services LLC lifted its holdings in shares of Allegion by 107.6% during the fourth quarter. Morningstar Investment Services LLC now owns 218,489 shares of the scientific and technical instruments company’s stock worth $27,717,000 after buying an additional 113,227 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of NYSE ALLE opened at $143.37 on Wednesday. The business has a fifty day simple moving average of $132.54 and a 200 day simple moving average of $127.33. Allegion plc has a one year low of $95.94 and a one year high of $144.49. The firm has a market capitalization of $12.49 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 4.21 and a beta of 1.12. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40.

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

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Friday, September 20th. Allegion’s dividend payout ratio (DPR) is 31.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays upped their price target on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a report on Thursday, July 25th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Finally, Wells Fargo & Company upped their target price on Allegion from $125.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $125.40.

Allegion 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.