Geode Capital Management LLC Raises Position in Allegion PLC (ALLE)

Geode Capital Management LLC boosted its stake in Allegion PLC (NYSE:ALLE) by 10.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 937,532 shares of the scientific and technical instruments company’s stock after buying an additional 86,292 shares during the period. Geode Capital Management LLC’s holdings in Allegion PLC were worth $70,891,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in Allegion PLC by 5.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,205 shares of the scientific and technical instruments company’s stock valued at $144,000 after buying an additional 111 shares during the period. First Manhattan Co. boosted its stake in Allegion PLC by 51.3% in the first quarter. First Manhattan Co. now owns 2,212 shares of the scientific and technical instruments company’s stock valued at $152,000 after buying an additional 750 shares during the period. Creative Planning boosted its stake in Allegion PLC by 10.9% in the first quarter. Creative Planning now owns 2,080 shares of the scientific and technical instruments company’s stock valued at $157,000 after buying an additional 205 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Allegion PLC by 2.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,256 shares of the scientific and technical instruments company’s stock valued at $171,000 after buying an additional 59 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new stake in Allegion PLC during the first quarter valued at approximately $174,000. 90.86% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Allegion PLC (NYSE:ALLE)

Shares of Allegion PLC (ALLE) traded down 0.32% during trading on Tuesday, hitting $81.91. 520,916 shares of the stock were exchanged. Allegion PLC has a 52 week low of $61.47 and a 52 week high of $82.77. The firm’s 50 day moving average price is $78.50 and its 200-day moving average price is $72.67. The stock has a market cap of $7.80 billion, a P/E ratio of 33.18 and a beta of 1.11.

Allegion PLC (NYSE:ALLE) last issued its earnings results on Thursday, April 27th. The scientific and technical instruments company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.69 by $0.04. Allegion PLC had a net margin of 10.50% and a return on equity of 234.79%. The company had revenue of $548.80 million for the quarter, compared to the consensus estimate of $536.97 million. During the same period in the previous year, the firm earned $0.61 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts predict that Allegion PLC will post $3.72 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Tuesday, June 13th. Allegion PLC’s payout ratio is 25.81%.

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ALLE has been the topic of a number of recent research reports. Credit Suisse Group reaffirmed a “buy” rating and issued a $89.00 price objective on shares of Allegion PLC in a research note on Friday, April 28th. Robert W. Baird cut shares of Allegion PLC from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $80.00 to $85.00 in a research note on Friday, April 28th. Zacks Investment Research raised shares of Allegion PLC from a “sell” rating to a “hold” rating in a research note on Thursday, March 23rd. Finally, Imperial Capital raised their price objective on shares of Allegion PLC from $79.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, May 5th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $85.40.

In other Allegion PLC news, insider Todd V. Graves sold 1,858 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $79.19, for a total transaction of $147,135.02. Following the transaction, the insider now directly owns 12,084 shares of the company’s stock, valued at approximately $956,931.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jeffrey N. Braun sold 7,455 shares of the business’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $79.46, for a total transaction of $592,374.30. Following the transaction, the senior vice president now directly owns 7,250 shares in the company, valued at $576,085. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,384 shares of company stock worth $1,064,660. 0.64% of the stock is owned by insiders.

Allegion PLC Company Profile

Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric 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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