Bank of Nova Scotia Buys 3,189 Shares of Allegion plc (NYSE:ALLE)

Bank of Nova Scotia boosted its stake in Allegion plc (NYSE:ALLEFree Report) by 41.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,909 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,189 shares during the period. Bank of Nova Scotia’s holdings in Allegion were worth $1,382,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC grew its position in Allegion by 3.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,218,915 shares of the scientific and technical instruments company’s stock worth $335,411,000 after purchasing an additional 119,954 shares during the period. Van ECK Associates Corp grew its position in Allegion by 15.9% in the 4th quarter. Van ECK Associates Corp now owns 3,215,649 shares of the scientific and technical instruments company’s stock worth $407,391,000 after purchasing an additional 441,882 shares during the period. Brown Advisory Inc. grew its position in Allegion by 33.0% in the 4th quarter. Brown Advisory Inc. now owns 1,895,352 shares of the scientific and technical instruments company’s stock worth $240,122,000 after purchasing an additional 470,104 shares during the period. Invesco Ltd. grew its position in Allegion by 11.7% in the 3rd quarter. Invesco Ltd. now owns 1,467,586 shares of the scientific and technical instruments company’s stock worth $152,922,000 after purchasing an additional 153,806 shares during the period. Finally, Deutsche Bank AG grew its position in Allegion by 0.3% in the 3rd quarter. Deutsche Bank AG now owns 1,360,639 shares of the scientific and technical instruments company’s stock worth $141,779,000 after purchasing an additional 4,332 shares during the period. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Down 0.6 %

Shares of Allegion stock opened at $117.56 on Friday. The company has a market capitalization of $10.28 billion, a P/E ratio of 19.18, a P/E/G ratio of 3.70 and a beta of 1.16. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.87 and a current ratio of 1.31. The company has a fifty day moving average of $125.29 and a 200 day moving average of $123.94. Allegion plc has a fifty-two week low of $95.94 and a fifty-two week high of $136.91.

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

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, June 14th. Allegion’s payout ratio is currently 31.32%.

Wall Street Analyst Weigh In

ALLE has been the subject of a number of recent research reports. Mizuho downgraded shares of Allegion from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. UBS Group boosted their price objective on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Barclays downgraded shares of Allegion from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $122.00 to $116.00 in a research report on Tuesday. Wells Fargo & Company downgraded shares of Allegion from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $139.00 to $140.00 in a research report on Wednesday, February 21st. Finally, StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, Allegion has a consensus rating of “Hold” and an average target price of $126.83.

Get Our Latest Stock Analysis on Allegion

Insiders Place Their Bets

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

Allegion Company Profile

(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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