US Bancorp DE Acquires 7,116 Shares of Allegion PLC (ALLE)
US Bancorp DE grew its holdings in shares of Allegion PLC (NYSE:ALLE) by 20.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 42,424 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,116 shares during the quarter. US Bancorp DE’s holdings in Allegion were worth $3,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. QS Investors LLC boosted its holdings in Allegion by 1.2% in the 2nd quarter. QS Investors LLC now owns 1,310 shares of the scientific and technical instruments company’s stock worth $106,000 after buying an additional 16 shares during the period. Thrivent Financial For Lutherans boosted its holdings in Allegion by 3.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 3,621 shares of the scientific and technical instruments company’s stock worth $294,000 after buying an additional 120 shares during the period. Suntrust Banks Inc. boosted its holdings in Allegion by 5.5% in the 2nd quarter. Suntrust Banks Inc. now owns 2,923 shares of the scientific and technical instruments company’s stock worth $236,000 after buying an additional 153 shares during the period. Sentry Investment Management LLC boosted its holdings in Allegion by 12.4% in the 2nd quarter. Sentry Investment Management LLC now owns 4,516 shares of the scientific and technical instruments company’s stock worth $366,000 after buying an additional 497 shares during the period. Finally, Whittier Trust Co. boosted its holdings in Allegion by 94.2% in the 3rd quarter. Whittier Trust Co. now owns 1,237 shares of the scientific and technical instruments company’s stock worth $107,000 after buying an additional 600 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the stock. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $100.00 target price (up previously from $90.00) on shares of Allegion in a report on Wednesday, October 18th. BidaskClub downgraded shares of Allegion from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. Zacks Investment Research downgraded shares of Allegion from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Wolfe Research raised shares of Allegion from a “market perform” rating to an “outperform” rating in a report on Monday, October 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $89.75.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.16. Allegion’s dividend payout ratio is 18.18%.
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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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