Wealth Alliance Has $290,000 Holdings in Allegion plc (NYSE:ALLE)

Wealth Alliance grew its holdings in Allegion plc (NYSE:ALLE) by 10.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,450 shares of the scientific and technical instruments company’s stock after purchasing an additional 223 shares during the quarter. Wealth Alliance’s holdings in Allegion were worth $290,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ALLE. Boston Partners raised its position in shares of Allegion by 1.5% during 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 acquiring an additional 72,773 shares during the last quarter. Van ECK Associates Corp increased its holdings in Allegion by 2.8% in the first 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 lifted its stake in Allegion by 7.8% in the second 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 buying an additional 120,870 shares during the period. Norges Bank bought a new position in Allegion during the fourth quarter worth about $110,740,000. Finally, Russell Investments Group Ltd. grew its position in shares of Allegion by 1.4% during the 1st quarter. Russell Investments Group Ltd. now owns 856,816 shares of the scientific and technical instruments company’s stock worth $115,411,000 after buying an additional 11,947 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Price Performance

Shares of ALLE opened at $143.75 on Friday. The stock has a 50 day simple moving average of $133.55 and a 200 day simple moving average of $127.55. Allegion plc has a 52-week low of $95.94 and a 52-week high of $146.41. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. The firm has a market capitalization of $12.57 billion, a PE ratio of 23.45, a P/E/G ratio of 4.21 and a beta of 1.12.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $953.63 million. During the same quarter in the prior year, the company earned $1.76 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict that Allegion plc will post 7.26 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be paid 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 is 31.32%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALLE. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Barclays increased their target price on shares of Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price target on shares of Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research report 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.