Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Allegion PLC (NYSE:ALLE) by 1.1% during the 1st quarter, Holdings Channel reports. The fund owned 23,132 shares of the scientific and technical instruments company’s stock after buying an additional 253 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Allegion were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB acquired a new stake in Allegion during the third quarter worth $83,058,000. BlackRock Inc. boosted its stake in Allegion by 14.3% during the fourth quarter. BlackRock Inc. now owns 6,900,253 shares of the scientific and technical instruments company’s stock worth $550,018,000 after buying an additional 861,515 shares in the last quarter. Norges Bank acquired a new stake in Allegion during the fourth quarter worth $67,509,000. Ardevora Asset Management LLP acquired a new stake in Allegion during the first quarter worth $34,796,000. Finally, AKO Capital LLP boosted its stake in Allegion by 31.6% during the fourth quarter. AKO Capital LLP now owns 1,455,574 shares of the scientific and technical instruments company’s stock worth $116,024,000 after buying an additional 349,663 shares in the last quarter. Institutional investors and hedge funds own 96.52% of the company’s stock.
Shares of NYSE:ALLE traded down $0.40 on Thursday, hitting $99.22. The stock had a trading volume of 13,002 shares, compared to its average volume of 727,109. Allegion PLC has a twelve month low of $74.83 and a twelve month high of $102.39. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.14 and a current ratio of 1.75. The company has a market capitalization of $9.60 billion, a PE ratio of 22.02, a P/E/G ratio of 1.91 and a beta of 1.20.
Allegion (NYSE:ALLE) last issued its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.01. Allegion had a net margin of 15.97% and a return on equity of 72.88%. The company had revenue of $655.00 million for the quarter, compared to the consensus estimate of $654.66 million. During the same quarter in the previous year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, analysts forecast that Allegion PLC will post 4.85 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.27 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.08 annualized dividend and a dividend yield of 1.09%. Allegion’s dividend payout ratio is presently 24.00%.
In related news, SVP Jeffrey N. Braun sold 2,211 shares of Allegion stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $90.29, for a total value of $199,631.19. Following the completion of the transaction, the senior vice president now directly owns 11,292 shares of the company’s stock, valued at $1,019,554.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick S. Shannon sold 34,898 shares of Allegion stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $87.44, for a total value of $3,051,481.12. The disclosure for this sale can be found here. Insiders sold a total of 72,486 shares of company stock worth $6,459,845 in the last 90 days. 0.77% of the stock is owned by corporate insiders.
Several equities research analysts have recently commented on ALLE shares. Zacks Investment Research downgraded shares of Allegion from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. ValuEngine upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Goldman Sachs Group downgraded shares of Allegion from a “buy” rating to a “neutral” rating and reduced their target price for the company from $98.00 to $92.00 in a research note on Wednesday, February 20th. Morgan Stanley set a $92.00 target price on shares of Allegion and gave the company a “hold” rating in a research note on Wednesday, February 20th. Finally, Imperial Capital restated an “in-line” rating and issued a $102.00 target price (up previously from $96.00) on shares of Allegion in a research note on Monday, April 29th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $97.00.
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.
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