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

Meyer Handelman Co. trimmed its holdings in shares of Allegion plc (NYSE:ALLEGet Rating) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,926 shares of the scientific and technical instruments company’s stock after selling 800 shares during the period. Meyer Handelman Co. owned 0.10% of Allegion worth $8,216,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley lifted their target price on Allegion from $115.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, July 29th. Barclays dropped their price target on Allegion from $140.00 to $125.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. The Goldman Sachs Group lowered their target price on Allegion from $140.00 to $113.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Robert W. Baird lowered their target price on Allegion from $120.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, July 18th. Finally, TheStreet lowered Allegion from a “b-” rating to a “c+” rating in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Allegion has an average rating of “Hold” and a consensus target price of $122.00.

Allegion Stock Performance

Shares of NYSE ALLE traded up $0.77 during trading hours on Friday, reaching $91.40. 15,304 shares of the stock were exchanged, compared to its average volume of 779,790. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 2.09 and a beta of 1.06. 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 stock’s fifty day simple moving average is $100.08 and its 200 day simple moving average is $105.60.

Allegion (NYSE:ALLEGet Rating) last announced its earnings results on Thursday, July 28th. The scientific and technical instruments company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. The company had revenue of $773.10 million for the quarter, compared to analyst estimates of $771.68 million. Allegion had a return on equity of 57.91% and a net margin of 15.89%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.32 earnings per share. Sell-side analysts predict that Allegion plc will post 5.4 EPS for the current year.

Allegion Announces Dividend

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