Orion Portfolio Solutions LLC Lowers Stake in Allegion plc (NYSE:ALLE)

Orion Portfolio Solutions LLC reduced its holdings in shares of Allegion plc (NYSE:ALLEFree Report) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,097 shares of the scientific and technical instruments company’s stock after selling 1,220 shares during the period. Orion Portfolio Solutions LLC’s holdings in Allegion were worth $1,992,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ALLE. Massachusetts Financial Services Co. MA purchased a new position in Allegion during the 4th quarter valued at about $120,959,000. Norges Bank bought a new stake in Allegion during the 4th quarter valued at about $110,740,000. Boston Partners increased its stake in Allegion by 17.2% during the 3rd quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company’s stock valued at $584,157,000 after purchasing an additional 825,048 shares in the last quarter. Hawk Ridge Capital Management LP bought a new stake in Allegion during the 3rd quarter valued at about $53,142,000. Finally, Lord Abbett & CO. LLC increased its stake in Allegion by 183.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 774,325 shares of the scientific and technical instruments company’s stock valued at $80,684,000 after purchasing an additional 500,924 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allegion

In other Allegion news, VP Timothy P. Eckersley sold 5,047 shares of Allegion stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $129.99, for a total transaction of $656,059.53. Following the transaction, the vice president now owns 35,567 shares of the company’s stock, valued at $4,623,354.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total value of $267,624.12. Following the transaction, the senior vice president now owns 11,103 shares of the company’s stock, valued at $1,354,343.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $129.99, for a total transaction of $656,059.53. Following the completion of the transaction, the vice president now directly owns 35,567 shares in the company, valued at approximately $4,623,354.33. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Allegion Stock Performance

Shares of NYSE ALLE opened at $120.45 on Friday. The firm has a 50 day moving average of $126.76 and a 200 day moving average of $123.47. The company has a current ratio of 1.31, a quick ratio of 0.87 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 3.79 and a beta of 1.14. Allegion plc has a 12-month low of $95.94 and a 12-month high of $136.91.

Allegion (NYSE:ALLEGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The business had revenue of $893.90 million for the quarter, compared to the consensus estimate of $888.27 million. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, research analysts anticipate that Allegion plc will post 7.08 earnings per share for the current year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, June 14th. Allegion’s dividend payout ratio is currently 31.32%.

Analyst Ratings Changes

A number of analysts have weighed in on ALLE shares. Mizuho lowered shares of Allegion from a “buy” rating to a “neutral” rating and raised their price objective for the company from $140.00 to $141.00 in a research note on Friday, February 23rd. UBS Group lifted their price target on shares of Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Wells Fargo & Company lowered shares of Allegion from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $139.00 to $140.00 in a research note on Wednesday, February 21st. Barclays lifted their price target on shares of Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Finally, StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $127.83.

Read Our Latest Analysis on Allegion

About Allegion

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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