Allegion PLC (NYSE:ALLE) Stake Trimmed by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in Allegion PLC (NYSE:ALLE) by 16.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,506 shares of the scientific and technical instruments company’s stock after selling 7,091 shares during the quarter. Russell Investments Group Ltd.’s holdings in Allegion were worth $3,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. grew its stake in Allegion by 9.9% during the 1st quarter. BlackRock Inc. now owns 7,585,468 shares of the scientific and technical instruments company’s stock valued at $688,079,000 after acquiring an additional 685,215 shares in the last quarter. FMR LLC grew its stake in Allegion by 13.5% during the 1st quarter. FMR LLC now owns 1,815,943 shares of the scientific and technical instruments company’s stock valued at $164,724,000 after acquiring an additional 215,361 shares in the last quarter. AKO Capital LLP grew its stake in Allegion by 0.7% during the 2nd quarter. AKO Capital LLP now owns 1,767,572 shares of the scientific and technical instruments company’s stock valued at $195,405,000 after acquiring an additional 12,909 shares in the last quarter. Bessemer Group Inc. grew its stake in Allegion by 0.4% during the 2nd quarter. Bessemer Group Inc. now owns 1,474,920 shares of the scientific and technical instruments company’s stock valued at $163,052,000 after acquiring an additional 5,626 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Allegion by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 1,274,114 shares of the scientific and technical instruments company’s stock valued at $101,389,000 after acquiring an additional 103,030 shares in the last quarter. 92.40% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ALLE traded down $0.15 during trading hours on Monday, hitting $102.09. The stock had a trading volume of 9,351 shares, compared to its average volume of 631,642. The company has a market capitalization of $9.46 billion, a P/E ratio of 22.62, a P/E/G ratio of 1.83 and a beta of 1.19. The firm’s 50-day moving average price is $98.34 and its two-hundred day moving average price is $98.79. Allegion PLC has a 52 week low of $74.83 and a 52 week high of $111.99. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.12 and a current ratio of 1.71.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, July 25th. The scientific and technical instruments company reported $1.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.05). The firm had revenue of $731.20 million during the quarter, compared to the consensus estimate of $750.76 million. Allegion had a net margin of 15.65% and a return on equity of 68.47%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 EPS. As a group, analysts expect that Allegion PLC will post 4.84 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.08 annualized dividend and a yield of 1.06%. Allegion’s dividend payout ratio (DPR) is currently 24.00%.

Several equities research analysts recently commented on ALLE shares. Credit Suisse Group cut Allegion from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $108.00 to $112.00 in a research note on Monday, July 8th. They noted that the move was a valuation call. Bank of America boosted their price target on Allegion from $114.00 to $116.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. ValuEngine cut Allegion from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Barclays boosted their price target on Allegion from $105.00 to $114.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Wells Fargo & Co boosted their price target on Allegion from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Allegion currently has a consensus rating of “Hold” and an average target price of $105.88.

Allegion Profile

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

Recommended Story: Stop Order

Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

Receive News & Ratings for Allegion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegion and related companies with MarketBeat.com's FREE daily email newsletter.