ProShare Advisors LLC raised its stake in shares of Allegion plc (NYSE:ALLE) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,911 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,126 shares during the quarter. ProShare Advisors LLC’s holdings in Allegion were worth $1,799,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC boosted its position in Allegion by 36.5% during the 1st quarter. Barclays PLC now owns 113,637 shares of the scientific and technical instruments company’s stock valued at $14,274,000 after acquiring an additional 30,379 shares in the last quarter. BlackRock Inc. boosted its position in shares of Allegion by 7.4% in the 2nd quarter. BlackRock Inc. now owns 8,164,984 shares of the scientific and technical instruments company’s stock worth $1,137,384,000 after purchasing an additional 560,741 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Allegion by 6.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,588 shares of the scientific and technical instruments company’s stock worth $213,000 after purchasing an additional 100 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Allegion by 4.0% in the 2nd quarter. Principal Financial Group Inc. now owns 129,348 shares of the scientific and technical instruments company’s stock worth $18,018,000 after purchasing an additional 5,006 shares in the last quarter. Finally, DAVENPORT & Co LLC acquired a new stake in shares of Allegion in the 2nd quarter worth $255,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.
NYSE ALLE opened at $128.92 on Thursday. The stock has a 50-day simple moving average of $138.20 and a two-hundred day simple moving average of $137.13. The firm has a market capitalization of $11.56 billion, a P/E ratio of 22.60, a PEG ratio of 3.58 and a beta of 1.19. Allegion plc has a fifty-two week low of $95.67 and a fifty-two week high of $148.70. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.48 and a current ratio of 2.03.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, September 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.12%. Allegion’s payout ratio is currently 28.18%.
In related news, CEO David D. Petratis sold 2,841 shares of Allegion stock in a transaction dated Monday, July 26th. The stock was sold at an average price of $139.28, for a total value of $395,694.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 8,523 shares of company stock valued at $1,187,851. 0.67% of the stock is owned by company insiders.
A number of analysts have recently weighed in on the company. Zacks Investment Research raised Allegion from a “hold” rating to a “buy” rating and set a $149.00 price objective for the company in a research report on Monday, August 30th. Credit Suisse Group lifted their price target on Allegion from $143.00 to $144.00 and gave the stock a “neutral” rating in a research report on Friday, July 23rd. Robert W. Baird lowered their price target on Allegion from $154.00 to $148.00 and set a “neutral” rating for the company in a research report on Monday, October 4th. Wells Fargo & Company assumed coverage on Allegion in a research report on Thursday, October 7th. They set an “overweight” rating and a $159.00 price target for the company. Finally, Morgan Stanley lowered their price target on Allegion from $151.00 to $137.00 and set an “equal weight” rating for the company in a research report on Thursday, October 7th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $151.13.
Allegion Plc provides security products and solutions that keep people safe, secure and productiv. It operates through the following three geographic segments: Americas; Middle East, India, and Africa (EMEIA); and Asia Pacific. The Americas segment sells a range of products and solutions such locks, locksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products, and access control and time and attendance systems.
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