Fruth Investment Management reduced its position in Allegion plc (NYSE:ALLE) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,831 shares of the scientific and technical instruments company’s stock after selling 100 shares during the quarter. Fruth Investment Management’s holdings in Allegion were worth $911,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Allegion by 6.0% during the second quarter. FMR LLC now owns 249,833 shares of the scientific and technical instruments company’s stock worth $25,538,000 after buying an additional 14,214 shares in the last quarter. Baird Financial Group Inc. acquired a new position in Allegion during the 2nd quarter worth about $1,699,000. Canada Pension Plan Investment Board lifted its holdings in Allegion by 1,404.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 45,236 shares of the scientific and technical instruments company’s stock worth $4,624,000 after buying an additional 42,230 shares during the period. Private Advisor Group LLC acquired a new position in Allegion during the 2nd quarter worth about $29,000. Finally, Cigna Investments Inc. New lifted its holdings in Allegion by 17.1% during the 2nd quarter. Cigna Investments Inc. New now owns 2,979 shares of the scientific and technical instruments company’s stock worth $304,000 after buying an additional 434 shares during the period. 93.20% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on ALLE shares. Credit Suisse Group lifted their target price on Allegion from $104.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. UBS Group started coverage on Allegion in a report on Tuesday, September 15th. They set a “neutral” rating and a $99.00 target price on the stock. Zacks Investment Research downgraded Allegion from a “buy” rating to a “hold” rating and set a $118.00 target price on the stock. in a report on Wednesday, December 23rd. Morgan Stanley lifted their price objective on Allegion from $103.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, October 23rd. Finally, Bank of America raised Allegion from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a research report on Wednesday, November 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Allegion presently has an average rating of “Hold” and an average target price of $107.89.
Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.45. Allegion had a return on equity of 63.43% and a net margin of 11.12%. The business had revenue of $728.40 million during the quarter, compared to analyst estimates of $674.79 million. During the same period in the previous year, the company posted $1.47 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts predict that Allegion plc will post 4.8 earnings per share for the current fiscal year.
The company also recently announced a dividend, which was paid on Monday, January 4th. Investors of record on Friday, January 1st were given a $1.31 dividend. This represents a yield of 1.19%. The ex-dividend date was Thursday, December 10th. Allegion’s payout ratio is 26.18%.
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.
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