Allegion PLC (ALLE) Stake Lifted by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. grew its holdings in Allegion PLC (NYSE:ALLE) by 1.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,979 shares of the scientific and technical instruments company’s stock after acquiring an additional 88 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Allegion PLC were worth $729,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in Allegion PLC by 210.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,414 shares of the scientific and technical instruments company’s stock worth $107,000 after buying an additional 959 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Allegion PLC by 2.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,256 shares of the scientific and technical instruments company’s stock worth $171,000 after buying an additional 59 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Allegion PLC during the 1st quarter worth approximately $174,000. Notis McConarty Edward purchased a new position in Allegion PLC during the 1st quarter worth approximately $202,000. Finally, Advisor Partners LLC purchased a new position in Allegion PLC during the 2nd quarter worth approximately $202,000. Institutional investors and hedge funds own 89.86% of the company’s stock.
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Allegion PLC (ALLE) opened at 81.07 on Tuesday. The company’s 50-day moving average price is $79.50 and its 200-day moving average price is $78.15. Allegion PLC has a 1-year low of $61.47 and a 1-year high of $82.90. The stock has a market cap of $7.70 billion, a P/E ratio of 31.36 and a beta of 1.10.
Allegion PLC (NYSE:ALLE) last posted its earnings results on Thursday, July 27th. The scientific and technical instruments company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.11. The company had revenue of $627 million during the quarter, compared to analyst estimates of $613.37 million. Allegion PLC had a return on equity of 198.25% and a net margin of 10.76%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 earnings per share. Analysts predict that Allegion PLC will post $3.78 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, September 15th. Allegion PLC’s dividend payout ratio (DPR) is presently 24.62%.
A number of research firms recently issued reports on ALLE. BidaskClub upgraded Allegion PLC from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Wolfe Research began coverage on Allegion PLC in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. Zacks Investment Research downgraded Allegion PLC from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Finally, Robert W. Baird set a $85.00 price target on Allegion PLC and gave the stock a “hold” rating in a research note on Thursday, August 24th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $86.00.
In other news, insider Timothy P. Eckersley sold 12,782 shares of the company’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 transaction of $1,037,131.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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