Magnetar Financial LLC Has $1.19 Million Stock Position in Allegion plc (NYSE:ALLE)

Magnetar Financial LLC lifted its holdings in shares of Allegion plc (NYSE:ALLE) by 40.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,026 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,897 shares during the period. Magnetar Financial LLC’s holdings in Allegion were worth $1,185,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ALLE. Crewe Advisors LLC grew its position in shares of Allegion by 160.2% in the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in 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 valued at $30,000 after purchasing an additional 3,823 shares during the period. Gradient Investments LLC bought a new position in Allegion during the 2nd quarter worth approximately $38,000. Blue Trust Inc. raised its holdings in Allegion by 54.0% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after purchasing an additional 121 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Allegion by 255.7% in the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 225 shares during the period. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 1.6 %

ALLE opened at $142.62 on Tuesday. The company has a fifty day moving average price of $134.30 and a two-hundred day moving average price of $127.70. Allegion plc has a 1-year low of $95.94 and a 1-year high of $146.41. The company has a market cap of $12.47 billion, a P/E ratio of 23.27, a price-to-earnings-growth 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 posted its quarterly 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 return on equity of 47.21% and a net margin of 15.08%. The business 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 business earned $1.76 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts predict that Allegion plc will post 7.26 EPS for the current fiscal 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 paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, September 20th. Allegion’s dividend payout ratio is currently 31.32%.

Wall Street Analyst Weigh In

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

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.