Allegion PLC $ALLE Stake Lessened by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its holdings in shares of Allegion PLC (NYSE:ALLE) by 12.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,601 shares of the scientific and technical instruments company’s stock after selling 14,645 shares during the quarter. Allianz Asset Management GmbH owned 0.12% of Allegion worth $17,664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. First Horizon Corp purchased a new position in Allegion in the third quarter valued at about $26,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Allegion during the 3rd quarter worth about $29,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Allegion during the 2nd quarter valued at about $33,000. Spire Wealth Management lifted its holdings in shares of Allegion by 78.0% during the 2nd quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 103 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in shares of Allegion in the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 2.3%

Shares of Allegion stock opened at $179.91 on Friday. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $180.68. The company’s fifty day simple moving average is $163.32 and its 200-day simple moving average is $167.53. The company has a market cap of $15.48 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.28 and a beta of 1.03. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.55 per share. This is an increase from Allegion’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, March 13th. Allegion’s dividend payout ratio is presently 27.60%.

Analyst Ratings Changes

ALLE has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research note on Wednesday, January 21st. Robert W. Baird raised their target price on Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Barclays reduced their price target on Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company reissued a “positive” rating on shares of Allegion in a report on Tuesday, December 16th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Allegion currently has an average rating of “Hold” and an average target price 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.