MQS Management LLC Acquires New Stake in Allegion plc (NYSE:ALLE)

MQS Management LLC bought a new stake in Allegion plc (NYSE:ALLE) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,708 shares of the scientific and technical instruments company’s stock, valued at approximately $556,000.

A number of other institutional investors have also made changes to their positions in the business. Stifel Financial Corp raised its holdings in shares of Allegion by 4.1% in the 4th quarter. Stifel Financial Corp now owns 130,196 shares of the scientific and technical instruments company’s stock valued at $16,495,000 after purchasing an additional 5,133 shares during the period. Norden Group LLC acquired a new stake in Allegion during the first quarter worth approximately $2,271,000. BNP Paribas Financial Markets boosted its holdings in shares of Allegion by 90.7% during the first quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock worth $16,380,000 after acquiring an additional 57,832 shares during the period. Morningstar Investment Services LLC grew its position in shares of Allegion by 107.6% in the fourth quarter. Morningstar Investment Services LLC now owns 218,489 shares of the scientific and technical instruments company’s stock valued at $27,717,000 after purchasing an additional 113,227 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Allegion by 18.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 66,701 shares of the scientific and technical instruments company’s stock worth $8,450,000 after purchasing an additional 10,300 shares during the period. Institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

Allegion stock opened at $143.39 on Thursday. The firm has a market cap of $12.54 billion, a P/E ratio of 23.39, a P/E/G ratio of 4.21 and a beta of 1.12. The stock’s 50 day moving average is $133.07 and its 200 day moving average is $127.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. Allegion plc has a one year low of $95.94 and a one year high of $146.41.

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

Allegion Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.