Allegion plc (NYSE:ALLE) Stake Increased by Heritage Family Offices LLP

Heritage Family Offices LLP grew its holdings in Allegion plc (NYSE:ALLE) by 142.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,420 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,775 shares during the period. Heritage Family Offices LLP’s holdings in Allegion were worth $838,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Blue Trust Inc. increased its stake in shares of Allegion by 55.8% in the fourth quarter. Blue Trust Inc. now owns 779 shares of the scientific and technical instruments company’s stock worth $102,000 after acquiring an additional 279 shares during the last quarter. Pacer Advisors Inc. increased its position in Allegion by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 7,737 shares of the scientific and technical instruments company’s stock worth $1,011,000 after buying an additional 1,123 shares during the last quarter. DAVENPORT & Co LLC increased its position in Allegion by 3.9% during the fourth quarter. DAVENPORT & Co LLC now owns 4,534 shares of the scientific and technical instruments company’s stock worth $593,000 after buying an additional 170 shares during the last quarter. Avantra Family Wealth Inc. acquired a new position in Allegion during the fourth quarter worth $236,000. Finally, Boston Trust Walden Corp increased its position in Allegion by 3.4% during the fourth quarter. Boston Trust Walden Corp now owns 469,726 shares of the scientific and technical instruments company’s stock worth $61,384,000 after buying an additional 15,621 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ALLE. Morgan Stanley increased their target price on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Barclays increased their target price on shares of Allegion from $126.00 to $128.00 and gave the stock an “underweight” rating in a research report on Friday, April 25th. Wells Fargo & Company lowered their target price 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. Wall Street Zen downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research 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 analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $140.40.

Allegion Stock Down 2.4%

NYSE ALLE opened at $139.29 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The firm has a 50-day simple moving average of $134.42 and a 200 day simple moving average of $133.06. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The stock has a market cap of $11.99 billion, a PE ratio of 20.42, a PEG ratio of 3.97 and a beta of 1.02.

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

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 1.46%. Allegion’s dividend payout ratio is currently 28.65%.

Insider Activity

In related news, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the sale, the senior vice president now directly owns 10,273 shares in the company, valued at $1,302,000.02. This represents a 16.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

Allegion Company 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.