Kayne Anderson Rudnick Investment Management LLC Raises Position in Allegion plc (NYSE:ALLE)

Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Allegion plc (NYSE:ALLE) by 2.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 3,741,165 shares of the scientific and technical instruments company’s stock after purchasing an additional 91,011 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Allegion were worth $442,019,000 as of its most recent SEC filing.

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

Allegion Trading Down 2.0 %

Shares of ALLE stock opened at $140.40 on Friday. Allegion plc has a 1 year low of $95.94 and a 1 year high of $146.41. The firm has a fifty day moving average price of $133.90 and a 200-day moving average price of $127.63. The company has a market cap of $12.28 billion, a price-to-earnings ratio of 22.90, a PEG 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 results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business 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 earnings per share. Allegion’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Allegion plc will post 7.26 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 yield of 1.37%. The ex-dividend date is Friday, September 20th. Allegion’s dividend payout ratio is currently 31.32%.

Analyst Ratings Changes

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