Calamos Advisors LLC Lowers Stock Position in Allegion plc (NYSE:ALLE)

Calamos Advisors LLC cut its stake in shares of Allegion plc (NYSE:ALLE) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,292 shares of the scientific and technical instruments company’s stock after selling 735 shares during the quarter. Calamos Advisors LLC’s holdings in Allegion were worth $7,132,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC bought a new stake in Allegion during the fourth quarter valued at about $28,000. Compass Wealth Management LLC purchased a new stake in shares of Allegion during the fourth quarter worth about $25,000. Benjamin Edwards Inc. raised its stake in Allegion by 123.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 261 shares of the scientific and technical instruments company’s stock valued at $31,000 after purchasing an additional 144 shares during the period. Ancora Advisors LLC lifted its holdings in Allegion by 153.3% in the 3rd quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 230 shares in the last quarter. Finally, Headinvest LLC bought a new position in Allegion in the 3rd quarter worth approximately $48,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Price Performance

ALLE stock opened at $125.21 on Friday. The company has a fifty day simple moving average of $130.79 and a two-hundred day simple moving average of $119.01. Allegion plc has a 52 week low of $95.94 and a 52 week high of $136.91. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $10.96 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 4.50 and a beta of 1.14.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The firm had revenue of $897.40 million during the quarter, compared to the consensus estimate of $904.17 million. During the same quarter last year, the firm earned $1.60 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts anticipate that Allegion plc will post 7.01 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion’s dividend payout ratio is currently 31.37%.

Insider Activity at Allegion

In other Allegion news, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $129.99, for a total transaction of $656,059.53. Following the transaction, the vice president now owns 35,567 shares in the company, valued at $4,623,354.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Allegion news, VP Timothy P. Eckersley sold 5,047 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the completion of the sale, the vice president now owns 35,567 shares of the company’s stock, valued at $4,623,354.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John H. Stone bought 10,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average cost of $132.41 per share, for a total transaction of $1,324,100.00. Following the purchase, the chief executive officer now owns 104,248 shares of the company’s stock, valued at approximately $13,803,477.68. The disclosure for this purchase can be found here. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ALLE has been the topic of several recent analyst reports. Mizuho cut shares of Allegion from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Wells Fargo & Company downgraded shares of Allegion from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $139.00 to $140.00 in a report on Wednesday, February 21st. Barclays increased their price objective on shares of Allegion from $121.00 to $122.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. UBS Group lifted their target price on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $127.83.

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.