Kayne Anderson Rudnick Investment Management LLC Raises Holdings in Allegion plc (NYSE:ALLE)

Kayne Anderson Rudnick Investment Management LLC boosted its stake in Allegion plc (NYSE:ALLE) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,741,165 shares of the scientific and technical instruments company’s stock after purchasing an additional 91,011 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 4.28% of Allegion worth $442,019,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its stake in shares of Allegion by 10.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 3,528 shares of the scientific and technical instruments company’s stock worth $447,000 after buying an additional 329 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Allegion by 19.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 3,823 shares during the last quarter. Norges Bank purchased a new stake in shares of Allegion during the fourth quarter worth about $110,740,000. UBS Group AG grew its stake in shares of Allegion by 29.2% in the fourth quarter. UBS Group AG now owns 103,157 shares of the scientific and technical instruments company’s stock worth $13,069,000 after purchasing an additional 23,329 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Allegion by 0.6% during the 4th quarter. Wells Fargo & Company MN now owns 689,700 shares of the scientific and technical instruments company’s stock valued at $87,378,000 after purchasing an additional 4,050 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALLE has been the topic of a number of recent analyst reports. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Barclays lifted their price target on shares of Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company upped their price objective on shares of Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Allegion has an average rating of “Hold” and an average target price of $125.40.

Allegion Price Performance

Shares of ALLE stock opened at $140.40 on Friday. The business’s fifty day moving average is $133.90 and its 200 day moving average is $127.63. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The stock has a market cap of $12.28 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 4.21 and a beta of 1.12. Allegion plc has a twelve month low of $95.94 and a twelve month high of $146.41.

Allegion (NYSE:ALLE) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping 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 firm had revenue of $965.60 million for the quarter, compared to the consensus estimate of $953.63 million. During the same period in the prior year, the firm earned $1.76 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Research analysts expect that Allegion plc will post 7.26 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.37%. Allegion’s dividend payout ratio is currently 31.32%.

About Allegion

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.