Ameriprise Financial Inc. increased its stake in Allegion PLC (NYSE:ALLE) by 57.0% during the second quarter, Holdings Channel reports. The institutional investor owned 85,721 shares of the company’s stock after buying an additional 31,129 shares during the period. Ameriprise Financial Inc. owned about 0.09% of Allegion PLC worth $5,951,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in Allegion PLC by 228.8% in the first quarter. Renaissance Technologies LLC now owns 731,000 shares of the company’s stock valued at $46,572,000 after buying an additional 508,670 shares in the last quarter. Standard Life Investments LTD raised its position in Allegion PLC by 1.7% in the second quarter. Standard Life Investments LTD now owns 5,935,394 shares of the company’s stock valued at $412,123,000 after buying an additional 100,022 shares in the last quarter. Geode Capital Management LLC raised its position in Allegion PLC by 3.5% in the first quarter. Geode Capital Management LLC now owns 767,644 shares of the company’s stock valued at $48,826,000 after buying an additional 25,690 shares in the last quarter. Intermede Investment Partners Ltd raised its position in Allegion PLC by 38.0% in the second quarter. Intermede Investment Partners Ltd now owns 437,464 shares of the company’s stock valued at $30,373,000 after buying an additional 120,365 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in Allegion PLC by 1.6% in the first quarter. Prudential Financial Inc. now owns 118,759 shares of the company’s stock valued at $7,567,000 after buying an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 90.33% of the company’s stock.
Shares of Allegion PLC (NYSE:ALLE) traded up 0.71% during mid-day trading on Wednesday, reaching $66.70. 79,214 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $68.99 and a 200 day moving average price of $68.24. Allegion PLC has a 52 week low of $52.95 and a 52 week high of $73.49. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 32.74 and a beta of 1.04.
Allegion PLC (NYSE:ALLE) last announced its earnings results on Thursday, July 28th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.90 by $0.09. The business had revenue of $584.90 million for the quarter, compared to the consensus estimate of $574.13 million. Allegion PLC had a return on equity of 476.64% and a net margin of 9.06%. The company’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. Equities research analysts predict that Allegion PLC will post $3.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.72%. Allegion PLC’s dividend payout ratio (DPR) is presently 23.53%.
ALLE has been the topic of several analyst reports. Zacks Investment Research upgraded Allegion PLC from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Tuesday, September 27th. Sanford C. Bernstein restated an “outperform” rating on shares of Allegion PLC in a report on Monday, June 27th. Berenberg Bank initiated coverage on shares of Allegion PLC in a report on Thursday, October 6th. They issued a “buy” rating and a $80.00 price objective on the stock. Imperial Capital lowered shares of Allegion PLC from an “outperform” rating to an “in-line” rating and boosted their price objective for the company from $71.00 to $79.00 in a report on Tuesday, August 2nd. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Allegion PLC in a report on Saturday, July 9th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $75.00.
In other Allegion PLC news, insider Feng William Yu sold 21,535 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $72.80, for a total transaction of $1,567,748.00. Following the completion of the sale, the insider now owns 53,539 shares in the company, valued at approximately $3,897,639.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Douglas P. Ranck sold 9,300 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $72.90, for a total value of $677,970.00. Following the sale, the insider now owns 11,544 shares of the company’s stock, valued at approximately $841,557.60. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
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. It operates through three segments: Americas; Europe, the Middle East, India and Africa (EMEIA), and Asia Pacific. The Company’s products include door closers and controls, electronic security products, exit devices, time, attendance and workforce productivity systems, door and door frames (steel), electronic and biometric access control systems, locks, locksets and key systems, and other accessories.