Raymond James & Associates Boosts Stock Holdings in Allegion plc (NYSE:ALLE)

Raymond James & Associates grew its stake in Allegion plc (NYSE:ALLE - Free Report) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 460,290 shares of the scientific and technical instruments company's stock after acquiring an additional 13,095 shares during the quarter. Raymond James & Associates owned about 0.53% of Allegion worth $67,083,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ALLE. American International Group Inc. increased its holdings in shares of Allegion by 0.7% in the 4th quarter. American International Group Inc. now owns 24,125 shares of the scientific and technical instruments company's stock valued at $3,056,000 after acquiring an additional 172 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Allegion in the 4th quarter worth $224,000. Thrive Wealth Management LLC boosted its position in shares of Allegion by 9.6% in the 1st quarter. Thrive Wealth Management LLC now owns 1,816 shares of the scientific and technical instruments company's stock worth $245,000 after purchasing an additional 159 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Allegion in the 1st quarter worth $278,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Allegion by 5.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company's stock worth $29,074,000 after purchasing an additional 10,896 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Performance

Shares of ALLE stock traded down $1.40 on Tuesday, hitting $150.61. The company had a trading volume of 982,204 shares, compared to its average volume of 700,921. The firm has a market cap of $13.17 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12. The company has a 50-day moving average price of $141.47 and a 200-day moving average price of $129.86. 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 plc has a twelve month low of $95.94 and a twelve month high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $965.60 million during the quarter, compared to analysts' expectations of $953.63 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 EPS. As a group, equities research analysts predict that Allegion plc will post 7.26 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.27%. Allegion's dividend payout ratio is presently 31.32%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ALLE shares. Wells Fargo & Company raised their price objective on Allegion from $137.00 to $152.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Barclays raised their price objective on Allegion from $117.00 to $135.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 2nd. StockNews.com raised Allegion from a "hold" rating to a "buy" rating in a research report on Saturday, July 27th. Finally, Mizuho raised their price objective on Allegion from $135.00 to $150.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Allegion currently has a consensus rating of "Hold" and an average price target of $142.25.

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.