Meyer Handelman Co. Has $8.22 Million Stock Holdings in Allegion plc (NYSE:ALLE)

Meyer Handelman Co. cut its position in Allegion plc (NYSE:ALLEGet Rating) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,926 shares of the scientific and technical instruments company’s stock after selling 800 shares during the period. Meyer Handelman Co.’s holdings in Allegion were worth $8,216,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. acquired a new position in Allegion during the 1st quarter valued at about $30,000. First Horizon Advisors Inc. boosted its stake in Allegion by 85.1% during the 1st quarter. First Horizon Advisors Inc. now owns 274 shares of the scientific and technical instruments company’s stock valued at $31,000 after purchasing an additional 126 shares during the last quarter. CWM LLC boosted its stake in Allegion by 75.0% during the 1st quarter. CWM LLC now owns 294 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 126 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Allegion by 113.2% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 388 shares of the scientific and technical instruments company’s stock valued at $43,000 after purchasing an additional 206 shares during the last quarter. Finally, Koshinski Asset Management Inc. lifted its position in shares of Allegion by 17.8% during the 1st quarter. Koshinski Asset Management Inc. now owns 596 shares of the scientific and technical instruments company’s stock worth $65,000 after buying an additional 90 shares in the last quarter. 91.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALLE has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Allegion from $115.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, August 1st. Barclays dropped their target price on shares of Allegion from $140.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. The Goldman Sachs Group dropped their target price on shares of Allegion from $140.00 to $113.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. TheStreet cut shares of Allegion from a “b-” rating to a “c+” rating in a research report on Tuesday, July 5th. Finally, Mizuho lowered their price target on shares of Allegion from $125.00 to $114.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $122.00.

Allegion Stock Performance

ALLE stock traded up $0.77 during midday trading on Friday, reaching $91.40. 15,304 shares of the company’s stock traded hands, compared to its average volume of 779,790. The company has a 50-day moving average price of $100.08 and a two-hundred day moving average price of $105.60. The company has a debt-to-equity ratio of 2.59, a quick ratio of 2.17 and a current ratio of 2.87. Allegion plc has a 52 week low of $89.01 and a 52 week high of $139.55. The firm has a market capitalization of $8.03 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06.

Allegion (NYSE:ALLEGet Rating) last issued its earnings results on Thursday, July 28th. The scientific and technical instruments company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. Allegion had a net margin of 15.89% and a return on equity of 57.91%. The business had revenue of $773.10 million for the quarter, compared to analysts’ expectations of $771.68 million. During the same quarter in the previous year, the firm posted $1.32 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that Allegion plc will post 5.4 EPS for the current year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.79%. Allegion’s dividend payout ratio (DPR) is currently 31.54%.

Allegion Company Profile

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Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door systems; and other accessories.

Further Reading

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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