Parallel Advisors LLC Decreases Holdings in Allegion plc (NYSE:ALLE)

Parallel Advisors LLC trimmed its stake in Allegion plc (NYSE:ALLE) by 8.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,519 shares of the scientific and technical instruments company’s stock after selling 238 shares during the quarter. Parallel Advisors LLC’s holdings in Allegion were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp lifted its stake in Allegion by 4.1% in the fourth quarter. Stifel Financial Corp now owns 130,196 shares of the scientific and technical instruments company’s stock valued at $16,495,000 after purchasing an additional 5,133 shares during the last quarter. Norden Group LLC bought a new position in shares of Allegion during the 1st quarter worth $2,271,000. BNP Paribas Financial Markets increased its holdings in Allegion by 90.7% in the 1st quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock worth $16,380,000 after acquiring an additional 57,832 shares during the last quarter. Morningstar Investment Services LLC raised its stake in Allegion by 107.6% in the 4th quarter. Morningstar Investment Services LLC now owns 218,489 shares of the scientific and technical instruments company’s stock valued at $27,717,000 after acquiring an additional 113,227 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in Allegion by 18.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 66,701 shares of the scientific and technical instruments company’s stock valued at $8,450,000 after purchasing an additional 10,300 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Allegion Stock Performance

Allegion stock opened at $143.39 on Thursday. Allegion plc has a 1-year low of $95.94 and a 1-year high of $146.41. 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 firm has a market capitalization 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. The firm’s 50 day simple moving average is $133.07 and its 200 day simple moving average is $127.44.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The firm had revenue of $965.60 million for the quarter, compared to analysts’ expectations of $953.63 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 earnings per share. As a group, analysts expect that Allegion plc will post 7.26 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently disclosed 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. This represents a $1.92 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, September 20th. Allegion’s payout ratio is 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.