Parallel Advisors LLC Has $298,000 Position in Allegion plc (NYSE:ALLE)

Parallel Advisors LLC trimmed its stake in Allegion plc (NYSE:ALLE) by 8.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,519 shares of the scientific and technical instruments company’s stock after selling 238 shares during the quarter. Parallel Advisors LLC’s holdings in Allegion were worth $298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALLE. Crewe Advisors LLC grew its stake 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 period. Robeco Institutional Asset Management B.V. grew its stake in Allegion by 19.3% in the fourth 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 acquiring an additional 3,823 shares during the period. Gradient Investments LLC bought a new stake in shares of Allegion during the second quarter valued at approximately $38,000. Blue Trust Inc. raised its position in shares of Allegion by 54.0% during 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 period. Finally, Covestor Ltd lifted its holdings 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 in the last quarter. 92.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on ALLE shares. Wells Fargo & Company upped 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. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Finally, Barclays lifted their price target on Allegion from $112.00 to $117.00 and gave the company an “underweight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued 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 Price Performance

ALLE opened at $143.39 on Thursday. Allegion plc has a 1 year low of $95.94 and a 1 year high of $146.41. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 4.21 and a beta of 1.12. The firm’s fifty day moving average price is $133.07 and its two-hundred day moving average price is $127.44.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The business had revenue of $965.60 million for the quarter, compared to analysts’ expectations of $953.63 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.76 earnings per share. As a group, analysts anticipate that Allegion plc will post 7.26 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.34%. Allegion’s dividend payout ratio (DPR) 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.