Kimelman & Baird LLC Makes New $39,000 Investment in Allegion plc (NYSE:ALLE)

Kimelman & Baird LLC purchased a new position in Allegion plc (NYSE:ALLE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 333 shares of the scientific and technical instruments company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Crewe Advisors LLC lifted its stake in Allegion by 160.2% during the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 149 shares during the period. Gradient Investments LLC bought a new position in Allegion during the second quarter valued at approximately $38,000. Blue Trust Inc. boosted its holdings in Allegion by 54.0% in the second 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. Covestor Ltd grew its position in 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. Finally, Larson Financial Group LLC purchased a new stake in Allegion during the 1st quarter valued at $44,000. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Allegion Stock Performance

NYSE:ALLE opened at $145.74 on Tuesday. 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 stock has a 50-day simple moving average of $135.66 and a two-hundred day simple moving average of $128.04. The firm has a market capitalization of $12.74 billion, a PE ratio of 23.77, a P/E/G ratio of 4.38 and a beta of 1.12. Allegion plc has a 52-week low of $95.94 and a 52-week high of $146.46.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating 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 company had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. During the same period in the previous year, the company posted $1.76 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. Analysts forecast that Allegion plc will post 7.26 EPS for the current year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a dividend of $0.48 per share. The ex-dividend date was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.32%. Allegion’s payout ratio is 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.