Envestnet Asset Management Inc. Sells 3,331 Shares of Allegion plc (NYSE:ALLE)

Envestnet Asset Management Inc. cut its position in Allegion plc (NYSE:ALLE) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 367,190 shares of the scientific and technical instruments company’s stock after selling 3,331 shares during the period. Envestnet Asset Management Inc.’s holdings in Allegion were worth $43,383,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ALLE. Crewe Advisors LLC raised its holdings in Allegion by 160.2% in the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Allegion by 255.7% during the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 225 shares during the period. Gradient Investments LLC bought a new stake in shares of Allegion in the second quarter worth $38,000. Larson Financial Group LLC acquired a new stake in Allegion in the first quarter valued at $44,000. Finally, Blue Trust Inc. raised its position in Allegion by 54.0% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after purchasing an additional 121 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Trading Up 0.2 %

Shares of ALLE stock opened at $143.75 on Friday. Allegion plc has a fifty-two week low of $95.94 and a fifty-two week high of $146.41. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. The stock has a 50 day simple moving average of $133.55 and a two-hundred day simple moving average of $127.55. The company has a market cap of $12.57 billion, a P/E ratio of 23.45, a PEG ratio of 4.21 and a beta of 1.12.

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

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be paid a $0.48 dividend. The ex-dividend date is Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.34%. Allegion’s dividend payout ratio is presently 31.32%.

Analysts Set New Price Targets

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

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.