Allegion PLC (ALLE) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. grew its holdings in shares of Allegion PLC (NYSE:ALLE) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 456,865 shares of the scientific and technical instruments company’s stock after purchasing an additional 30,567 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.48% of Allegion PLC worth $37,061,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ALLE. BlackRock Inc. increased its holdings in Allegion PLC by 5,286.4% in the 1st quarter. BlackRock Inc. now owns 5,209,003 shares of the scientific and technical instruments company’s stock worth $394,319,000 after acquiring an additional 5,112,297 shares during the last quarter. Egerton Capital UK LLP purchased a new stake in Allegion PLC in the 2nd quarter worth about $102,557,000. Artisan Partners Limited Partnership increased its holdings in Allegion PLC by 223.4% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,293,790 shares of the scientific and technical instruments company’s stock worth $97,940,000 after acquiring an additional 893,759 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in Allegion PLC by 131.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 1,042,666 shares of the scientific and technical instruments company’s stock worth $78,930,000 after acquiring an additional 591,517 shares during the last quarter. Finally, State Street Corp increased its holdings in Allegion PLC by 11.9% in the 1st quarter. State Street Corp now owns 5,061,071 shares of the scientific and technical instruments company’s stock worth $383,121,000 after acquiring an additional 538,262 shares during the last quarter. 89.86% of the stock is owned by institutional investors.
Shares of Allegion PLC (NYSE:ALLE) opened at 81.07 on Tuesday. The stock’s 50 day moving average price is $79.50 and its 200-day moving average price is $78.15. The company has a market cap of $7.70 billion, a P/E ratio of 31.36 and a beta of 1.10. Allegion PLC has a 12 month low of $61.47 and a 12 month high of $82.90.
Allegion PLC (NYSE:ALLE) last released its earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The firm had revenue of $627 million during the quarter, compared to analysts’ expectations of $613.37 million. During the same quarter last year, the business posted $0.99 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Equities research analysts expect that Allegion PLC will post $3.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, September 15th. Allegion PLC’s payout ratio is presently 24.62%.
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A number of research analysts have weighed in on ALLE shares. BidaskClub raised Allegion PLC from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Wolfe Research started coverage on Allegion PLC in a report on Tuesday, July 11th. They set a “market perform” rating for the company. Zacks Investment Research lowered Allegion PLC from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Finally, Robert W. Baird set a $85.00 target price on Allegion PLC and gave the company a “hold” rating in a report on Thursday, August 24th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $86.00.
In other news, insider Timothy P. Eckersley sold 12,782 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $81.14, for a total value of $1,037,131.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.64% of the stock is currently owned by corporate 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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