Massachusetts Financial Services Co. MA Boosts Stake in Allegion plc (NYSE:ALLE)

Massachusetts Financial Services Co. MA raised its holdings in shares of Allegion plc (NYSE:ALLE) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,672,237 shares of the scientific and technical instruments company’s stock after buying an additional 120,870 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.91% of Allegion worth $197,575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Greenwich Wealth Management LLC grew its position in Allegion by 0.5% during the second quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock worth $1,761,000 after buying an additional 79 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Allegion by 0.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 186,660 shares of the scientific and technical instruments company’s stock worth $21,607,000 after purchasing an additional 904 shares during the last quarter. Forsta AP Fonden lifted its stake in Allegion by 55.3% during the second quarter. Forsta AP Fonden now owns 33,400 shares of the scientific and technical instruments company’s stock worth $3,946,000 after purchasing an additional 11,900 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Allegion by 8.3% during the second quarter. Daiwa Securities Group Inc. now owns 9,508 shares of the scientific and technical instruments company’s stock worth $1,123,000 after purchasing an additional 726 shares during the last quarter. Finally, Andra AP fonden bought a new stake in Allegion during the second quarter worth about $10,704,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ALLE. Wells Fargo & Company lifted their price target on Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Barclays lifted their price target on Allegion from $112.00 to $117.00 and gave the stock an “underweight” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $125.40.

Allegion Trading Up 0.5 %

NYSE ALLE opened at $143.37 on Wednesday. Allegion plc has a 1-year low of $95.94 and a 1-year high of $144.49. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. The stock has a 50-day moving average of $132.54 and a 200-day moving average of $127.33. The firm has a market cap of $12.54 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 4.21 and a beta of 1.12.

Allegion (NYSE:ALLE) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share 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 company had revenue of $965.60 million during the quarter, compared to analyst estimates of $953.63 million. During the same quarter in the previous year, the company posted $1.76 EPS. Allegion’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Allegion plc will post 7.26 EPS for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, September 20th. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

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.