Allegion PLC (ALLE) Shares Bought by BlackRock Inc.
BlackRock Inc. increased its stake in Allegion PLC (NYSE:ALLE) by 14.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,955,519 shares of the scientific and technical instruments company’s stock after purchasing an additional 746,516 shares during the quarter. BlackRock Inc. owned about 6.27% of Allegion PLC worth $483,111,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of ALLE. Tredje AP fonden acquired a new stake in Allegion PLC in the 2nd quarter valued at about $105,000. Tower Research Capital LLC TRC lifted its holdings in Allegion PLC by 210.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,414 shares of the scientific and technical instruments company’s stock valued at $107,000 after acquiring an additional 959 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Allegion PLC in the 1st quarter valued at about $174,000. Notis McConarty Edward acquired a new stake in Allegion PLC in the 1st quarter valued at about $202,000. Finally, Advisor Partners LLC acquired a new stake in Allegion PLC in the 2nd quarter valued at about $202,000. 89.86% of the stock is owned by institutional investors and hedge funds.
In related news, insider Timothy P. Eckersley sold 12,782 shares of Allegion PLC stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $81.14, for a total value of $1,037,131.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is owned by company insiders.
A number of brokerages have weighed in on ALLE. Zacks Investment Research raised shares of Allegion PLC from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a report on Friday, June 30th. BidaskClub downgraded shares of Allegion PLC from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Robert W. Baird set a $85.00 price target on shares of Allegion PLC and gave the company a “hold” rating in a report on Thursday, August 24th. Finally, Wolfe Research began coverage on shares of Allegion PLC in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Allegion PLC has an average rating of “Buy” and a consensus target price of $86.00.
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Shares of Allegion PLC (ALLE) opened at 84.55 on Monday. The firm’s 50-day moving average is $79.89 and its 200-day moving average is $78.54. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 32.71 and a beta of 1.10. Allegion PLC has a 1-year low of $61.47 and a 1-year high of $84.64.
Allegion PLC (NYSE:ALLE) last announced its quarterly earnings data on Thursday, July 27th. The scientific and technical instruments company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.11. The firm had revenue of $627.00 million during the quarter, compared to analyst estimates of $613.37 million. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share. On average, analysts predict that Allegion PLC will post $3.78 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.64 dividend on an annualized basis and a yield of 0.76%. Allegion PLC’s payout ratio is 24.62%.
Allegion PLC Company Profile
Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric 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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