Carlson Capital L P Sells 17,950 Shares of Allegion plc (NYSE:ALLE)

Carlson Capital L P decreased its stake in shares of Allegion plc (NYSE:ALLE) by 44.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,357 shares of the scientific and technical instruments company’s stock after selling 17,950 shares during the quarter. Carlson Capital L P’s holdings in Allegion were worth $2,683,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ALLE. Edgestream Partners L.P. purchased a new stake in shares of Allegion in the 2nd quarter worth $930,000. Commonwealth Equity Services LLC lifted its stake in Allegion by 78.0% in the second quarter. Commonwealth Equity Services LLC now owns 15,636 shares of the scientific and technical instruments company’s stock worth $1,877,000 after acquiring an additional 6,854 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Allegion by 4.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,916 shares of the scientific and technical instruments company’s stock worth $1,790,000 after acquiring an additional 689 shares in the last quarter. Boston Partners increased its position in Allegion by 18.8% during the 2nd quarter. Boston Partners now owns 4,788,171 shares of the scientific and technical instruments company’s stock valued at $573,792,000 after purchasing an additional 757,599 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in shares of Allegion by 19.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 542 shares of the scientific and technical instruments company’s stock valued at $65,000 after purchasing an additional 90 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Stock Up 0.4 %

Shares of ALLE traded up $0.40 during mid-day trading on Friday, hitting $106.35. 411,887 shares of the company traded hands, compared to its average volume of 767,816. The company has a market capitalization of $9.34 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.63 and a beta of 1.13. The company has a quick ratio of 1.31, a current ratio of 2.03 and a debt-to-equity ratio of 1.63. The business has a 50 day moving average of $102.78 and a 200 day moving average of $109.77. Allegion plc has a 1-year low of $95.94 and a 1-year high of $128.36.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.21. The business had revenue of $917.90 million for the quarter, compared to analyst estimates of $908.93 million. Allegion had a net margin of 15.41% and a return on equity of 55.71%. Allegion’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 EPS. Equities research analysts anticipate that Allegion plc will post 6.85 EPS for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, September 15th. This represents a $1.80 annualized dividend and a yield of 1.69%. Allegion’s payout ratio is presently 28.53%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Allegion in a report on Thursday, October 5th. They set a “hold” rating on the stock. Robert W. Baird boosted their price target on Allegion from $126.00 to $132.00 in a research report on Thursday, July 27th. Wells Fargo & Company decreased their price objective on Allegion from $130.00 to $120.00 in a research note on Monday, October 9th. Longbow Research lowered Allegion from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 6th. Finally, Vertical Research lowered shares of Allegion from a “buy” rating to a “hold” rating and decreased their price target for the company from $128.00 to $100.00 in a research report on Thursday, October 19th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Allegion has an average rating of “Moderate Buy” and a consensus target price of $121.14.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems 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, accessories, and other.