Waddell & Reed Financial Inc. cut its stake in shares of Allegion PLC (NYSE:ALLE) by 27.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 665,529 shares of the scientific and technical instruments company’s stock after selling 256,904 shares during the quarter. Waddell & Reed Financial Inc.’s holdings in Allegion were worth $51,485,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Fort L.P. acquired a new position in shares of Allegion during the second quarter worth $119,000. FDx Advisors Inc. acquired a new position in shares of Allegion during the first quarter worth $209,000. Claraphi Advisory Network LLC acquired a new position in shares of Allegion during the first quarter worth $217,000. Mission Wealth Management LP acquired a new position in shares of Allegion during the second quarter worth $200,000. Finally, Intrust Bank NA acquired a new position in shares of Allegion during the second quarter worth $205,000. Institutional investors own 94.48% of the company’s stock.

NYSE ALLE opened at $87.82 on Friday. The firm has a market capitalization of $8.53 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.53 and a beta of 1.08. Allegion PLC has a twelve month low of $73.85 and a twelve month high of $90.18. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.80 and a quick ratio of 1.24.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, July 26th. The scientific and technical instruments company reported $1.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.05. The business had revenue of $704.70 million during the quarter, compared to the consensus estimate of $697.96 million. Allegion had a return on equity of 91.38% and a net margin of 11.19%. Allegion’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.11 earnings per share. sell-side analysts anticipate that Allegion PLC will post 4.47 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Monday, September 17th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 14th. This represents a $0.84 dividend on an annualized basis and a yield of 0.96%. Allegion’s payout ratio is 21.21%.

Several research analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Allegion in a report on Monday, August 20th. They set an “equal weight” rating and a $88.00 price target for the company. Zacks Investment Research downgraded shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, July 20th. ValuEngine downgraded shares of Allegion from a “hold” rating to a “sell” rating in a report on Friday, June 1st. Finally, Wells Fargo & Co lowered their price target on shares of Allegion from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Tuesday, July 17th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Allegion has a consensus rating of “Hold” and an average target price of $94.00.

In related news, insider Douglas P. Ranck sold 3,200 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $89.78, for a total value of $287,296.00. Following the completion of the sale, the insider now directly owns 10,348 shares in the company, valued at $929,043.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.75% of the company’s stock.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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