Federated Hermes Inc. Sells 3,643 Shares of Allegion plc (NYSE:ALLE)

Federated Hermes Inc. decreased its stake in shares of Allegion plc (NYSE:ALLE - Free Report) by 61.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,325 shares of the scientific and technical instruments company's stock after selling 3,643 shares during the period. Federated Hermes Inc.'s holdings in Allegion were worth $275,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ALLE. UBS Group AG lifted its position in shares of Allegion by 29.2% during the fourth quarter. UBS Group AG now owns 103,157 shares of the scientific and technical instruments company's stock worth $13,069,000 after purchasing an additional 23,329 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Allegion by 8.5% in the fourth quarter. Corient Private Wealth LLC now owns 7,300 shares of the scientific and technical instruments company's stock worth $925,000 after acquiring an additional 573 shares during the last quarter. Assetmark Inc. bought a new position in Allegion in the fourth quarter worth about $1,023,000. Commerce Bank lifted its holdings in Allegion by 5.8% in the fourth quarter. Commerce Bank now owns 12,316 shares of the scientific and technical instruments company's stock worth $1,560,000 after acquiring an additional 674 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Allegion by 5.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 23,003 shares of the scientific and technical instruments company's stock worth $2,914,000 after acquiring an additional 1,285 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Allegion Stock Down 0.3 %

Shares of NYSE:ALLE traded down $0.45 during trading on Wednesday, reaching $143.39. 500,329 shares of the company traded hands, compared to its average volume of 691,736. The firm has a fifty day simple moving average of $134.61 and a 200 day simple moving average of $127.80. The firm has a market cap of $12.49 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 4.38 and a beta of 1.12. Allegion plc has a 1-year low of $95.94 and a 1-year high of $146.41. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40.

Allegion (NYSE:ALLE - Get Free Report) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating 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 company had revenue of $965.60 million during the quarter, compared to analyst estimates of $953.63 million. During the same quarter last year, the business posted $1.76 EPS. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Analysts anticipate 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. Investors of record on Friday, September 20th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, September 20th. Allegion's payout ratio is presently 31.32%.

Analyst Ratings Changes

ALLE has been the topic of several analyst reports. StockNews.com upgraded shares of Allegion from a "hold" rating to a "buy" rating in a research note on Saturday, July 27th. Barclays lifted their price target on shares of Allegion from $112.00 to $117.00 and gave the stock an "underweight" rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price target on shares of Allegion from $125.00 to $137.00 and gave the stock an "equal weight" rating in a research 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 given a buy rating to the company. Based on data from MarketBeat, the company has an average 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.