Forsta AP Fonden acquired a new position in Allegion PLC (NYSE:ALLE) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,800 shares of the scientific and technical instruments company’s stock, valued at approximately $258,000.
A number of other hedge funds also recently bought and sold shares of ALLE. Norges Bank acquired a new stake in Allegion in the fourth quarter worth about $106,300,000. Goldman Sachs Group Inc. lifted its holdings in Allegion by 53.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,389,970 shares of the scientific and technical instruments company’s stock worth $173,106,000 after purchasing an additional 485,514 shares during the period. Alliancebernstein L.P. lifted its holdings in Allegion by 5.6% in the fourth quarter. Alliancebernstein L.P. now owns 7,159,671 shares of the scientific and technical instruments company’s stock worth $891,665,000 after purchasing an additional 378,767 shares during the period. Pictet Asset Management Ltd. lifted its holdings in Allegion by 23.4% in the 4th quarter. Pictet Asset Management Ltd. now owns 1,983,329 shares of the scientific and technical instruments company’s stock valued at $247,004,000 after acquiring an additional 376,117 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Allegion by 3.2% in the 1st quarter. BlackRock Inc. now owns 9,867,650 shares of the scientific and technical instruments company’s stock valued at $908,021,000 after acquiring an additional 304,283 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.
In other news, CAO Douglas P. Ranck sold 3,525 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $133.97, for a total value of $472,244.25. Following the transaction, the chief accounting officer now owns 2,450 shares in the company, valued at approximately $328,226.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David D. Petratis sold 42,631 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $129.69, for a total value of $5,528,814.39. Following the completion of the transaction, the chief executive officer now owns 293,690 shares in the company, valued at approximately $38,088,656.10. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.
NYSE ALLE opened at $101.68 on Tuesday. The stock’s 50-day moving average price is $93.73 and its two-hundred day moving average price is $115.13. The company has a current ratio of 2.02, a quick ratio of 1.42 and a debt-to-equity ratio of 2.33. The company has a market cap of $9.43 billion, a PE ratio of 29.73, a PEG ratio of 4.21 and a beta of 1.21. Allegion PLC has a 1 year low of $77.37 and a 1 year high of $139.24.
Allegion (NYSE:ALLE) last issued its earnings results on Thursday, April 23rd. The scientific and technical instruments company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.15. The company had revenue of $674.70 million for the quarter, compared to the consensus estimate of $653.92 million. Allegion had a return on equity of 69.68% and a net margin of 11.20%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. Research analysts forecast that Allegion PLC will post 3.99 EPS for the current fiscal year.
Allegion declared that its board has approved a share repurchase program on Thursday, February 6th that permits the company to repurchase $800.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.26%. Allegion’s dividend payout ratio is 26.18%.
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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