Distillate Capital Partners LLC Buys New Position in Allegion plc (NYSE:ALLE)

Distillate Capital Partners LLC bought a new position in Allegion plc (NYSE:ALLE) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 115,630 shares of the scientific and technical instruments company’s stock, valued at approximately $13,662,000. Distillate Capital Partners LLC owned 0.13% of Allegion at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its holdings in shares of Allegion by 19.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock worth $30,000 after acquiring an additional 3,823 shares during the period. UBS Group AG raised its holdings in 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 in the last quarter. Corient Private Wealth LLC lifted its position in Allegion by 8.5% during the fourth quarter. Corient Private Wealth LLC now owns 7,300 shares of the scientific and technical instruments company’s stock valued at $925,000 after buying an additional 573 shares during the period. Assetmark Inc. purchased a new stake in shares of Allegion in the 4th quarter worth about $1,023,000. Finally, Commerce Bank increased its stake in shares of Allegion by 5.8% in the 4th quarter. Commerce Bank now owns 12,316 shares of the scientific and technical instruments company’s stock worth $1,560,000 after acquiring an additional 674 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Barclays increased their target price on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $125.40.

Allegion Trading Up 1.6 %

Shares of NYSE:ALLE opened at $142.62 on Tuesday. Allegion plc has a 1 year low of $95.94 and a 1 year high of $146.41. The stock’s fifty day moving average price is $134.30 and its 200-day moving average price is $127.70. The company has a market cap of $12.47 billion, a P/E ratio of 23.27, a PEG ratio of 4.21 and a beta of 1.12. 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 (NYSE:ALLE) last released its quarterly earnings data 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 firm had revenue of $965.60 million during the quarter, compared to analysts’ expectations of $953.63 million. During the same period in the previous year, the company earned $1.76 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that Allegion plc will post 7.26 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, September 20th. Allegion’s 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.