Park Avenue Securities LLC Trims Stock Holdings in Allegion plc (NYSE:ALLE)

Park Avenue Securities LLC lowered its stake in shares of Allegion plc (NYSE:ALLE) by 4.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,485 shares of the scientific and technical instruments company’s stock after selling 174 shares during the period. Park Avenue Securities LLC’s holdings in Allegion were worth $508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Boston Partners lifted its holdings in Allegion by 1.5% during the 1st quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock worth $673,441,000 after purchasing an additional 72,773 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Allegion by 2.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock valued at $442,019,000 after acquiring an additional 91,011 shares during the period. Van ECK Associates Corp boosted its position in shares of Allegion by 2.8% in the first 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 acquiring an additional 90,951 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Allegion by 7.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock worth $197,575,000 after acquiring an additional 120,870 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in 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 purchasing an additional 11,947 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALLE. Barclays boosted their price target on shares of Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $132.00.

Allegion Stock Up 1.8 %

ALLE opened at $147.30 on Friday. The business’s fifty day simple moving average is $137.92 and its 200 day simple moving average is $128.90. Allegion plc has a 52 week low of $95.94 and a 52 week high of $147.40. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The stock has a market cap of $12.83 billion, a PE ratio of 23.42, a P/E/G ratio of 4.50 and a beta of 1.12.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.84 by $0.12. The firm had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.76 EPS. As a group, research 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 was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.30%. Allegion’s payout ratio is 30.52%.

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.