Mission Wealth Management LP Sells 652 Shares of Allegion plc (NYSE:ALLE)

Mission Wealth Management LP reduced its position in Allegion plc (NYSE:ALLEFree Report) by 7.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,752 shares of the scientific and technical instruments company’s stock after selling 652 shares during the quarter. Mission Wealth Management LP’s holdings in Allegion were worth $1,044,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new position in shares of Allegion during the 1st quarter worth about $223,000. Diversify Advisory Services LLC acquired a new stake in Allegion during the first quarter valued at approximately $839,000. Norden Group LLC bought a new stake in shares of Allegion in the 1st quarter valued at approximately $2,271,000. Van ECK Associates Corp raised its holdings in shares of Allegion by 2.8% in the 1st quarter. Van ECK Associates Corp now owns 3,306,600 shares of the scientific and technical instruments company’s stock worth $445,432,000 after buying an additional 90,951 shares in the last quarter. Finally, JLB & Associates Inc. lifted its position in shares of Allegion by 4.9% during the 1st quarter. JLB & Associates Inc. now owns 29,198 shares of the scientific and technical instruments company’s stock worth $3,933,000 after buying an additional 1,370 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Performance

Allegion stock opened at $114.95 on Friday. The stock has a 50-day simple moving average of $120.23 and a 200 day simple moving average of $125.23. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 3.61 and a beta of 1.13. The company has a quick ratio of 0.87, a current ratio of 1.31 and a debt-to-equity ratio of 1.18. Allegion plc has a 12-month low of $95.94 and a 12-month high of $136.91.

Allegion (NYSE:ALLEGet Free Report) last announced its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The company had revenue of $893.90 million during the quarter, compared to the consensus estimate of $888.27 million. During the same period in the previous year, the firm posted $1.58 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. On average, research analysts anticipate that Allegion plc will post 7.09 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.48 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a yield of 1.67%. Allegion’s payout ratio is 31.32%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. Barclays cut shares of Allegion from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $122.00 to $116.00 in a research report on Tuesday, June 4th. Finally, UBS Group boosted their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $126.83.

Get Our Latest Stock Report on ALLE

Insider Activity

In other news, SVP Tracy L. Kemp sold 2,194 shares of the company’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 transaction, the senior vice president now owns 11,103 shares of the company’s stock, valued at $1,354,343.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

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.

See Also

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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