Forsta AP Fonden Acquires 11,900 Shares of Allegion plc (NYSE:ALLE)

Forsta AP Fonden increased its holdings in shares of Allegion plc (NYSE:ALLE) by 55.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,400 shares of the scientific and technical instruments company’s stock after buying an additional 11,900 shares during the period. Forsta AP Fonden’s holdings in Allegion were worth $3,946,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Allegion in the 4th quarter valued at $110,740,000. APG Asset Management US Inc. bought a new stake in shares of Allegion in the fourth quarter worth about $66,449,000. Hawk Ridge Capital Management LP raised its position in shares of Allegion by 39.8% during the fourth quarter. Hawk Ridge Capital Management LP now owns 712,774 shares of the scientific and technical instruments company’s stock worth $90,301,000 after purchasing an additional 202,774 shares during the period. Public Employees Retirement Association of Colorado bought a new position in shares of Allegion during the 4th quarter valued at about $16,902,000. Finally, Morningstar Investment Services LLC lifted its holdings in shares of Allegion by 107.6% during the 4th quarter. Morningstar Investment Services LLC now owns 218,489 shares of the scientific and technical instruments company’s stock valued at $27,717,000 after purchasing an additional 113,227 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on ALLE shares. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Wells Fargo & Company increased their target price 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 boosted their price target on Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $125.40.

Allegion Stock Up 1.5 %

Allegion stock opened at $141.17 on Monday. The company has a fifty day simple moving average of $131.41 and a 200 day simple moving average of $127.11. 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 plc has a 1-year low of $95.94 and a 1-year high of $141.99. The company has a market cap of $12.30 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 4.21 and a beta of 1.12.

Allegion (NYSE:ALLE) last released its earnings results 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 business had revenue of $965.60 million for the quarter, compared to the consensus estimate of $953.63 million. During the same quarter in the previous year, the business earned $1.76 earnings per share. Allegion’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts anticipate that Allegion plc will post 7.26 earnings per share for the current fiscal year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 1.36%. The ex-dividend date of this dividend is Friday, September 20th. Allegion’s payout ratio is presently 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.