Echo Street Capital Management LLC Sells 1,927 Shares of Allegion plc (NYSE:ALLE)

Echo Street Capital Management LLC trimmed its stake in shares of Allegion plc (NYSE:ALLEGet Rating) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,309 shares of the scientific and technical instruments company’s stock after selling 1,927 shares during the quarter. Echo Street Capital Management LLC’s holdings in Allegion were worth $2,120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in Allegion by 7.6% in the 4th quarter. State Street Corp now owns 4,644,285 shares of the scientific and technical instruments company’s stock valued at $615,089,000 after purchasing an additional 327,677 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Allegion by 4.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,810,334 shares of the scientific and technical instruments company’s stock valued at $372,202,000 after acquiring an additional 128,448 shares in the last quarter. Boston Partners increased its position in Allegion by 178.8% during the first quarter. Boston Partners now owns 2,720,389 shares of the scientific and technical instruments company’s stock worth $298,583,000 after acquiring an additional 1,744,674 shares during the period. AKO Capital LLP raised its stake in Allegion by 55.0% in the 1st quarter. AKO Capital LLP now owns 1,792,835 shares of the scientific and technical instruments company’s stock worth $196,817,000 after purchasing an additional 636,425 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Allegion by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 1,682,040 shares of the scientific and technical instruments company’s stock valued at $222,195,000 after purchasing an additional 24,639 shares during the period. 91.06% of the stock is currently owned by institutional investors and hedge funds.

Allegion Stock Performance

Shares of Allegion stock opened at $99.63 on Friday. The company’s 50 day moving average price is $101.00 and its two-hundred day moving average price is $106.92. The firm has a market capitalization of $8.75 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.25 and a beta of 1.06. Allegion plc has a fifty-two week low of $93.05 and a fifty-two week high of $148.33. The company has a debt-to-equity ratio of 2.59, a current ratio of 2.87 and a quick ratio of 2.17.

Allegion (NYSE:ALLEGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The scientific and technical instruments company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. The company had revenue of $773.10 million during the quarter, compared to analysts’ expectations of $771.68 million. Allegion had a return on equity of 57.91% and a net margin of 15.89%. Allegion’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 EPS. On average, equities analysts forecast that Allegion plc will post 5.4 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, September 15th. Allegion’s dividend payout ratio is currently 31.54%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALLE. The Goldman Sachs Group lowered their target price on shares of Allegion from $140.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. Barclays reduced their target price on Allegion from $140.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. Mizuho dropped their price target on Allegion from $145.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, July 18th. Morgan Stanley increased their price objective on shares of Allegion from $115.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, July 29th. Finally, Wells Fargo & Company dropped their target price on shares of Allegion from $115.00 to $114.00 and set an “overweight” rating for the company in a research report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $123.22.

About Allegion

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Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, 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 and door systems; and other accessories.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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