Frank Rimerman Advisors LLC Invests $229,000 in Allegion plc (NYSE:ALLE)

Frank Rimerman Advisors LLC bought a new stake in shares of Allegion plc (NYSE:ALLE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,569 shares of the scientific and technical instruments company’s stock, valued at approximately $229,000.

A number of other hedge funds have also recently bought and sold shares of the company. Boston Partners lifted its position in shares of 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 valued at $673,441,000 after acquiring an additional 72,773 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Allegion by 2.5% in the 2nd 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 purchasing an additional 91,011 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Allegion by 7.8% in 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 purchasing an additional 120,870 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Allegion by 1.4% during 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 buying an additional 11,947 shares during the period. Finally, Lord Abbett & CO. LLC lifted its stake in Allegion by 0.8% during the first quarter. Lord Abbett & CO. LLC now owns 819,015 shares of the scientific and technical instruments company’s stock valued at $110,330,000 after buying an additional 6,877 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Trading Down 0.2 %

NYSE ALLE opened at $142.33 on Tuesday. 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 plc has a 1-year low of $95.97 and a 1-year high of $156.10. The firm’s fifty day simple moving average is $142.34 and its 200-day simple moving average is $130.16. The company has a market capitalization of $12.45 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.18. The company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.94 EPS. As a group, sell-side analysts anticipate that Allegion plc will post 7.26 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.35%. The ex-dividend date was Friday, September 20th. Allegion’s dividend payout ratio is 31.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ALLE shares. Wells Fargo & Company boosted their price target on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Barclays boosted their target price on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research note on Monday. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Mizuho increased their price objective on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird raised their price objective on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $144.60.

Allegion Company 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.