LGT Group Foundation Takes Position in Allegion plc (NYSE:ALLE)

LGT Group Foundation purchased a new stake in Allegion plc (NYSE:ALLE) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 3,550 shares of the scientific and technical instruments company’s stock, valued at approximately $419,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Prudential PLC lifted its position in shares of Allegion by 13.1% during the 2nd quarter. Prudential PLC now owns 28,844 shares of the scientific and technical instruments company’s stock valued at $3,408,000 after acquiring an additional 3,348 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Allegion during the 2nd quarter worth approximately $1,327,000. Great Lakes Advisors LLC raised its position in Allegion by 183.0% during the second quarter. Great Lakes Advisors LLC now owns 115,294 shares of the scientific and technical instruments company’s stock valued at $13,622,000 after purchasing an additional 74,559 shares in the last quarter. National Bank of Canada FI raised its position in Allegion by 45.8% during the second quarter. National Bank of Canada FI now owns 59,080 shares of the scientific and technical instruments company’s stock valued at $6,837,000 after purchasing an additional 18,551 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Allegion by 2.2% in the 2nd quarter. TD Asset Management Inc now owns 24,311 shares of the scientific and technical instruments company’s stock valued at $2,872,000 after purchasing an additional 521 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Barclays boosted their target price on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company boosted their target price on Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $125.40.

Allegion Stock Up 1.2 %

Shares of NYSE ALLE opened at $136.15 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. The company has a market cap of $11.86 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 4.13 and a beta of 1.12. Allegion plc has a 12 month low of $95.94 and a 12 month high of $141.99. The stock has a 50-day moving average price of $129.59 and a two-hundred day moving average price of $126.83.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The company had revenue of $965.60 million for the quarter, compared to analysts’ expectations of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.76 earnings per share. As a group, analysts forecast that Allegion plc will post 7.26 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, September 20th. Allegion’s dividend payout ratio (DPR) is currently 31.32%.

About Allegion

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.