Hsbc Holdings PLC Grows Position in Allegion plc (NYSE:ALLE)

Hsbc Holdings PLC lifted its position in shares of Allegion plc (NYSE:ALLE) by 139.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 59,872 shares of the scientific and technical instruments company’s stock after purchasing an additional 34,876 shares during the quarter. Hsbc Holdings PLC owned about 0.07% of Allegion worth $7,061,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of 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 acquiring an additional 3,823 shares in the last quarter. UBS Group AG lifted its stake in shares of Allegion by 29.2% during the fourth quarter. UBS Group AG now owns 103,157 shares of the scientific and technical instruments company’s stock worth $13,069,000 after purchasing an additional 23,329 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Allegion by 8.5% in the fourth quarter. Corient Private Wealth LLC now owns 7,300 shares of the scientific and technical instruments company’s stock worth $925,000 after buying an additional 573 shares during the period. Assetmark Inc. purchased a new stake in shares of Allegion during the 4th quarter valued at about $1,023,000. Finally, Commerce Bank lifted its position in Allegion by 5.8% during the 4th quarter. Commerce Bank now owns 12,316 shares of the scientific and technical instruments company’s stock worth $1,560,000 after acquiring an additional 674 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Barclays increased 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. Finally, Wells Fargo & Company lifted their price objective on Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Allegion has a consensus rating of “Hold” and an average price target of $125.40.

Allegion Trading Up 1.6 %

NYSE:ALLE opened at $142.62 on Tuesday. The company has a market cap of $12.47 billion, a PE ratio of 23.27, a P/E/G ratio of 4.21 and a beta of 1.12. The business’s 50 day moving average is $134.30 and its two-hundred day moving average is $127.70. 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 plc has a 52 week low of $95.94 and a 52 week high of $146.41.

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 for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The business had revenue of $965.60 million during the quarter, compared to the consensus estimate of $953.63 million. During the same quarter in the prior year, the firm earned $1.76 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts predict that Allegion plc will post 7.26 EPS for the current year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.35%. Allegion’s dividend payout ratio is currently 31.32%.

Allegion Company 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.