Norden Group LLC Purchases Shares of 16,860 Allegion plc (NYSE:ALLE)

Norden Group LLC bought a new position in shares of Allegion plc (NYSE:ALLE) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,860 shares of the scientific and technical instruments company’s stock, valued at approximately $2,271,000.

Other hedge funds have also recently modified their holdings of the company. Stifel Financial Corp raised its position in Allegion by 4.1% during the fourth quarter. Stifel Financial Corp now owns 130,196 shares of the scientific and technical instruments company’s stock worth $16,495,000 after acquiring an additional 5,133 shares during the period. Nordea Investment Management AB increased its stake in Allegion by 1.8% during the fourth quarter. Nordea Investment Management AB now owns 1,310,495 shares of the scientific and technical instruments company’s stock worth $165,516,000 after acquiring an additional 23,155 shares during the last quarter. Morningstar Investment Services LLC increased its position in shares of Allegion by 107.6% during the 4th quarter. Morningstar Investment Services LLC now owns 218,489 shares of the scientific and technical instruments company’s stock worth $27,717,000 after purchasing an additional 113,227 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Allegion by 214.1% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 242,313 shares of the scientific and technical instruments company’s stock valued at $30,699,000 after acquiring an additional 165,165 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Allegion by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 850,987 shares of the scientific and technical instruments company’s stock valued at $107,813,000 after purchasing an additional 19,981 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALLE. Barclays cut shares of Allegion from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $122.00 to $116.00 in a research report on Tuesday, June 4th. UBS Group lifted their price target on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $126.83.

Allegion Price Performance

ALLE stock opened at $115.69 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.87 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $10.12 billion, a P/E ratio of 18.87, a PEG ratio of 3.65 and a beta of 1.13. The business has a 50 day simple moving average of $120.41 and a 200-day simple moving average of $125.21. Allegion plc has a twelve month low of $95.94 and a twelve month high of $136.91.

Allegion (NYSE:ALLE) last issued its quarterly 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. The firm had revenue of $893.90 million during the quarter, compared to analysts’ expectations of $888.27 million. Allegion had a net margin of 14.93% and a return on equity of 48.58%. Allegion’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 EPS. As a group, equities analysts anticipate that Allegion plc will post 7.09 EPS for the current year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.66%. The ex-dividend date was Friday, June 14th. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

Insider Buying and Selling at Allegion

In other news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

Allegion Company Profile

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.