Raymond James & Associates reduced its stake in Allegion (NYSE:ALLE) by 25.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,838 shares of the scientific and technical instruments company’s stock after selling 11,104 shares during the period. Raymond James & Associates’ holdings in Allegion were worth $2,533,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in Allegion by 109.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,326 shares of the scientific and technical instruments company’s stock valued at $105,000 after buying an additional 692 shares during the last quarter. Zions Bancorporation raised its stake in shares of Allegion by 141.9% in the third quarter. Zions Bancorporation now owns 1,587 shares of the scientific and technical instruments company’s stock worth $137,000 after purchasing an additional 931 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in Allegion during the third quarter valued at $211,000. Visionary Asset Management Inc. purchased a new stake in Allegion during the third quarter valued at $211,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Allegion during the third quarter valued at $221,000. Hedge funds and other institutional investors own 92.23% of the company’s stock.
Several analysts have issued reports on ALLE shares. Zacks Investment Research raised Allegion from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. Barclays reaffirmed an “overweight” rating and issued a $103.00 price objective (up previously from $100.00) on shares of Allegion in a research note on Wednesday, February 21st. Wells Fargo reaffirmed an “outperform” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Allegion in a research note on Wednesday, February 21st. Finally, Imperial Capital reissued an “outperform” rating and set a $94.00 price target (up from $85.00) on shares of Allegion in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $95.83.
Shares of NYSE ALLE opened at $85.62 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 1.72 and a debt-to-equity ratio of 3.56. Allegion has a fifty-two week low of $75.61 and a fifty-two week high of $89.81. The company has a market capitalization of $8,125.98, a PE ratio of 21.62, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05.
Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 20th. The scientific and technical instruments company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.17. Allegion had a return on equity of 126.46% and a net margin of 11.35%. The company had revenue of $623.00 million for the quarter, compared to analysts’ expectations of $605.13 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Allegion’s revenue was up 9.4% compared to the same quarter last year. equities research analysts anticipate that Allegion will post 4.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.84 annualized dividend and a yield of 0.98%. Allegion’s dividend payout ratio (DPR) is presently 21.21%.
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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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