Federated Hermes Inc. Sells 3,643 Shares of Allegion plc (NYSE:ALLE)

Federated Hermes Inc. decreased its position in shares of Allegion plc (NYSE:ALLE) by 61.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,325 shares of the scientific and technical instruments company’s stock after selling 3,643 shares during the quarter. Federated Hermes Inc.’s holdings in Allegion were worth $275,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ALLE. Crossmark Global Holdings Inc. boosted its position in shares of Allegion by 3.6% during the second quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company’s stock worth $310,000 after purchasing an additional 92 shares in the last quarter. Pitcairn Co. grew its stake in Allegion by 3.5% in the first quarter. Pitcairn Co. now owns 2,784 shares of the scientific and technical instruments company’s stock valued at $375,000 after acquiring an additional 94 shares during the period. First Hawaiian Bank increased its holdings in shares of Allegion by 6.3% in the first quarter. First Hawaiian Bank now owns 1,861 shares of the scientific and technical instruments company’s stock worth $251,000 after acquiring an additional 110 shares in the last quarter. Canandaigua National Bank & Trust Co. raised its position in shares of Allegion by 3.3% during the first quarter. Canandaigua National Bank & Trust Co. now owns 3,672 shares of the scientific and technical instruments company’s stock worth $495,000 after purchasing an additional 116 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in shares of Allegion by 3.9% during the 1st quarter. William Blair Investment Management LLC now owns 3,115 shares of the scientific and technical instruments company’s stock valued at $420,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLE has been the subject of a number of research reports. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Wells Fargo & Company raised 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. Finally, Barclays upped their target price on shares of Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Allegion presently has an average rating of “Hold” and an average price target of $125.40.

Allegion Stock Performance

Shares of ALLE stock opened at $143.84 on Wednesday. Allegion plc has a 12 month low of $95.94 and a 12 month high of $146.41. The company’s fifty day simple moving average is $134.61 and its 200-day simple moving average is $127.80. The firm has a market cap of $12.58 billion, a PE ratio of 23.46, a P/E/G ratio of 4.21 and a beta of 1.12. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40.

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, topping analysts’ consensus estimates of $1.84 by $0.12. The company had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 EPS. Equities research analysts expect that Allegion plc will post 7.26 EPS for the current fiscal year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, September 20th. Allegion’s dividend payout ratio (DPR) is 31.32%.

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.