Sumitomo Mitsui DS Asset Management Company Ltd Acquires 340 Shares of Allegion plc (NYSE:ALLE)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Allegion plc (NYSE:ALLE) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,643 shares of the scientific and technical instruments company’s stock after purchasing an additional 340 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Allegion were worth $1,260,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ALLE. American International Group Inc. raised its stake in shares of Allegion by 0.7% during the 4th quarter. American International Group Inc. now owns 24,125 shares of the scientific and technical instruments company’s stock worth $3,056,000 after purchasing an additional 172 shares during the period. Thrive Wealth Management LLC increased its holdings in Allegion by 9.6% in the 1st quarter. Thrive Wealth Management LLC now owns 1,816 shares of the scientific and technical instruments company’s stock worth $245,000 after acquiring an additional 159 shares during the last quarter. Oak Thistle LLC purchased a new stake in Allegion in the 1st quarter worth about $278,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Allegion by 5.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company’s stock worth $29,074,000 after acquiring an additional 10,896 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV grew its holdings in Allegion by 1.8% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 23,373 shares of the scientific and technical instruments company’s stock valued at $3,149,000 after buying an additional 406 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Mizuho lifted their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Barclays lifted their target price on Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their target price on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Allegion has an average rating of “Hold” and an average target price of $142.25.

Allegion Stock Down 0.9 %

Shares of NYSE ALLE opened at $150.61 on Wednesday. Allegion plc has a 12 month low of $95.94 and a 12 month high of $156.10. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $13.17 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 4.50 and a beta of 1.12. The business has a 50-day moving average of $141.47 and a 200-day moving average of $129.86.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $953.63 million. During the same quarter in the previous year, the firm earned $1.76 earnings per share. Allegion’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that Allegion plc will post 7.26 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Friday, September 20th. Allegion’s payout ratio is 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.