Cooke & Bieler LP Sells 60,372 Shares of Allegion PLC $ALLE

Cooke & Bieler LP lowered its stake in Allegion PLC (NYSE:ALLE) by 11.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 484,287 shares of the scientific and technical instruments company’s stock after selling 60,372 shares during the quarter. Cooke & Bieler LP owned 0.56% of Allegion worth $85,888,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Ballentine Partners LLC purchased a new stake in shares of Allegion during the second quarter worth about $244,000. Forvis Mazars Wealth Advisors LLC bought a new position in Allegion during the 3rd quarter valued at approximately $2,838,000. Burney Co. purchased a new stake in Allegion in the 3rd quarter worth approximately $9,297,000. Berkshire Hathaway Inc bought a new stake in shares of Allegion in the 2nd quarter worth approximately $112,433,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Allegion by 5.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,356,869 shares of the scientific and technical instruments company’s stock worth $417,991,000 after buying an additional 113,821 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of Allegion stock opened at $167.04 on Monday. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $180.68. The firm has a market capitalization of $14.37 billion, a P/E ratio of 22.60, a P/E/G ratio of 3.05 and a beta of 1.04. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06. The business has a fifty day simple moving average of $162.12 and a two-hundred day simple moving average of $166.31.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. Allegion had a net margin of 16.09% and a return on equity of 40.83%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $2.16 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.2%. Allegion’s dividend payout ratio (DPR) is currently 27.60%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wells Fargo & Company reaffirmed a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Robert W. Baird upped their price objective on shares of Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research report on Wednesday. Finally, Barclays reduced their price target on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $174.25.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.