SG Americas Securities LLC Raises Position in Allegion plc (NYSE:ALLE)

SG Americas Securities LLC grew its stake in Allegion plc (NYSE:ALLE) by 238.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,675 shares of the scientific and technical instruments company’s stock after purchasing an additional 10,341 shares during the period. SG Americas Securities LLC’s holdings in Allegion were worth $1,915,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Millstone Evans Group LLC bought a new stake in Allegion in the fourth quarter worth $28,000. Colonial Trust Co SC lifted its holdings in shares of Allegion by 192.9% in the 4th quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 164 shares during the last quarter. Atala Financial Inc purchased a new position in shares of Allegion during the 4th quarter worth about $35,000. GeoWealth Management LLC grew its holdings in Allegion by 259.3% during the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 223 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in Allegion by 56.1% during the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Trading Down 2.5%

Shares of NYSE ALLE opened at $135.18 on Monday. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The firm has a market cap of $11.63 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 3.97 and a beta of 1.02. The business has a fifty day simple moving average of $136.50 and a two-hundred day simple moving average of $132.92. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.68 by $0.18. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The firm had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. During the same quarter last year, the firm posted $1.55 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts expect that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 1.51%. Allegion’s dividend payout ratio is currently 28.65%.

Analysts Set New Price Targets

ALLE has been the subject of several recent analyst reports. Wall Street Zen lowered Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Barclays boosted their price objective on Allegion from $126.00 to $128.00 and gave the company an “underweight” rating in a report on Friday, April 25th. Morgan Stanley increased their target price on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their target price on Allegion from $144.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Finally, Wells Fargo & Company cut their price target on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, Allegion presently has a consensus rating of “Hold” and a consensus target price of $140.40.

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.