Allegion plc (NYSE:ALLE) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. trimmed its stake in shares of Allegion plc (NYSE:ALLE) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,194 shares of the scientific and technical instruments company’s stock after selling 91 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Allegion were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ALLE. Boston Partners increased its position in Allegion by 1.5% in the 1st quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock valued at $673,441,000 after acquiring an additional 72,773 shares during the period. Van ECK Associates Corp boosted its stake in Allegion by 2.8% during the 1st quarter. Van ECK Associates Corp now owns 3,306,600 shares of the scientific and technical instruments company’s stock valued at $445,432,000 after purchasing an additional 90,951 shares in the last quarter. Norges Bank acquired a new position in shares of Allegion during the 4th quarter valued at $110,740,000. Russell Investments Group Ltd. raised its stake in shares of Allegion by 1.4% in the 1st quarter. Russell Investments Group Ltd. now owns 856,816 shares of the scientific and technical instruments company’s stock worth $115,411,000 after buying an additional 11,947 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of 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 buying an additional 19,981 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Price Performance

NYSE ALLE opened at $143.37 on Wednesday. The company has a 50 day simple moving average of $132.54 and a 200-day simple moving average of $127.33. Allegion plc has a 52-week low of $95.94 and a 52-week high of $144.49. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 4.21 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm had revenue of $965.60 million during the quarter, compared to analysts’ expectations of $953.63 million. During the same quarter last year, the firm earned $1.76 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts predict that Allegion plc will post 7.26 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, September 30th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.34%. Allegion’s dividend payout ratio is currently 31.32%.

Analysts Set New Price Targets

ALLE has been the topic of a number of research analyst reports. Barclays lifted their target price on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a report on Thursday, July 25th. Wells Fargo & Company lifted their price objective on shares of Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $125.40.

Allegion 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.