Wahed Invest LLC Purchases New Position in Allegion plc (NYSE:ALLE)

Wahed Invest LLC acquired a new position in Allegion plc (NYSE:ALLE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,221 shares of the scientific and technical instruments company’s stock, valued at approximately $290,000.

Several other hedge funds have also modified their holdings of ALLE. Millstone Evans Group LLC bought a new stake in Allegion in the fourth quarter worth $28,000. Atala Financial Inc purchased a new position in shares of Allegion in the 4th quarter worth $35,000. GeoWealth Management LLC increased its holdings in shares of Allegion by 259.3% in the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 223 shares during the last quarter. Private Trust Co. NA raised its position in shares of Allegion by 56.1% during the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after buying an additional 115 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its holdings in shares of Allegion by 78.0% in the 4th quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock valued at $51,000 after acquiring an additional 170 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ALLE shares. Morgan Stanley upped their price objective on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Barclays increased their price target on Allegion from $126.00 to $128.00 and gave the company an “underweight” rating in a report on Friday, April 25th. Wells Fargo & Company cut their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Robert W. Baird upped their price target on shares of Allegion from $144.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $140.40.

Insider Activity at Allegion

In other Allegion news, Director Gregg C. Sengstack acquired 8,000 shares of Allegion stock in a transaction that occurred on Wednesday, February 19th. The stock was bought at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $1,001,920. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the sale, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock worth $406,636 over the last three months. 0.33% of the stock is owned by corporate insiders.

Allegion Trading Up 1.6 %

Shares of ALLE opened at $140.84 on Friday. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 3.97 and a beta of 1.01. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a 50-day moving average of $128.38 and a 200 day moving average of $133.48.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.18. The firm had revenue of $941.90 million during the quarter, compared to analyst estimates of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Allegion’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 earnings per share. On average, research analysts expect that Allegion plc will post 7.77 EPS for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 1.45%. Allegion’s dividend payout ratio is currently 28.65%.

Allegion 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.