Allegion plc (NYSE:ALLE) Shares Bought by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV grew its holdings in Allegion plc (NYSE:ALLE) by 70.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,650 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,004 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Allegion were worth $1,172,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Crewe Advisors LLC grew its position in Allegion by 160.2% during the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 149 shares during the last quarter. Covestor Ltd grew its holdings in shares of Allegion by 255.7% during the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $42,000 after buying an additional 225 shares during the last quarter. Gradient Investments LLC acquired a new position in shares of Allegion in the 2nd quarter valued at $38,000. Larson Financial Group LLC purchased a new position in Allegion in the 1st quarter worth $44,000. Finally, Blue Trust Inc. grew its stake in Allegion by 54.0% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock valued at $41,000 after purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALLE. 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 company an “equal weight” rating in a research note on Thursday, July 25th. Finally, StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $125.40.

Allegion Trading Down 0.3 %

Allegion stock opened at $143.39 on Thursday. The firm has a market cap of $12.49 billion, a PE ratio of 23.39, a P/E/G ratio of 4.38 and a beta of 1.12. Allegion plc has a 12 month low of $95.94 and a 12 month high of $146.41. The stock’s 50 day simple moving average is $134.94 and its two-hundred day simple moving average is $127.91. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40.

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

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a $0.48 dividend. The ex-dividend date is Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.34%. Allegion’s dividend payout ratio is presently 31.32%.

About Allegion

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.