Handelsbanken Fonder AB grew its stake in shares of Allegion (NYSE:ALLE) by 2.9% in the 1st quarter, Holdings Channel reports. The firm owned 706,010 shares of the scientific and technical instruments company’s stock after acquiring an additional 20,010 shares during the quarter. Allegion makes up about 1.3% of Handelsbanken Fonder AB’s portfolio, making the stock its 21st biggest position. Handelsbanken Fonder AB’s holdings in Allegion were worth $60,216,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in Allegion by 109.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,326 shares of the scientific and technical instruments company’s stock valued at $105,000 after buying an additional 692 shares during the period. Macquarie Group Ltd. acquired a new position in Allegion during the fourth quarter valued at $111,000. Commerzbank Aktiengesellschaft FI acquired a new position in Allegion during the first quarter valued at $205,000. FDx Advisors Inc. acquired a new position in Allegion during the first quarter valued at $209,000. Finally, Claraphi Advisory Network LLC acquired a new position in Allegion during the first quarter valued at $217,000. 87.95% of the stock is owned by institutional investors and hedge funds.
Get Allegion alerts:Shares of Allegion opened at $81.48 on Tuesday, Marketbeat reports. Allegion has a fifty-two week low of $73.85 and a fifty-two week high of $89.81. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.43 and a beta of 1.05. The company has a current ratio of 1.78, a quick ratio of 1.17 and a debt-to-equity ratio of 3.20.
Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, April 26th. The scientific and technical instruments company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.04). Allegion had a net margin of 11.21% and a return on equity of 102.62%. The firm had revenue of $613.10 million during the quarter, compared to analysts’ expectations of $605.47 million. During the same quarter in the previous year, the firm posted $0.71 EPS. Allegion’s revenue was up 11.7% compared to the same quarter last year. equities research analysts expect that Allegion will post 4.48 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, June 14th. Allegion’s payout ratio is 21.21%.
Several research firms recently weighed in on ALLE. ValuEngine raised Allegion from a “sell” rating to a “hold” rating in a research report on Thursday, June 7th. Zacks Investment Research lowered Allegion from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. Berenberg Bank lowered Allegion from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Wells Fargo & Co reissued an “outperform” rating and set a $105.00 price target (up from $100.00) on shares of Allegion in a research report on Wednesday, February 21st. Finally, Imperial Capital reissued an “outperform” rating and set a $94.00 price target (up from $85.00) on shares of Allegion in a research report on Wednesday, February 21st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $94.60.
Allegion Profile
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers locks, locksets, portable locks, and key systems; door closers and exit devices; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door frames; and other accessories.
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