Neuberger Berman Group LLC Buys 1,854 Shares of Allegion plc (NYSE:ALLE)

Neuberger Berman Group LLC lifted its stake in Allegion plc (NYSE:ALLEFree Report) by 22.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,209 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,854 shares during the quarter. Neuberger Berman Group LLC’s holdings in Allegion were worth $1,293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Schechter Investment Advisors LLC grew its position in Allegion by 3.9% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,554 shares of the scientific and technical instruments company’s stock valued at $324,000 after buying an additional 97 shares during the period. Huntington National Bank boosted its position in shares of Allegion by 19.5% in the third quarter. Huntington National Bank now owns 638 shares of the scientific and technical instruments company’s stock worth $66,000 after purchasing an additional 104 shares during the period. Allworth Financial LP boosted its position in shares of Allegion by 11.8% in the fourth quarter. Allworth Financial LP now owns 982 shares of the scientific and technical instruments company’s stock worth $124,000 after purchasing an additional 104 shares during the period. iA Global Asset Management Inc. boosted its position in shares of Allegion by 5.4% in the third quarter. iA Global Asset Management Inc. now owns 2,200 shares of the scientific and technical instruments company’s stock worth $229,000 after purchasing an additional 112 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Allegion by 20.9% in the fourth quarter. Signaturefd LLC now owns 765 shares of the scientific and technical instruments company’s stock worth $97,000 after purchasing an additional 132 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Insider Activity at Allegion

In related news, SVP Tracy L. Kemp sold 2,194 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the sale, the senior vice president now owns 11,103 shares of the company’s stock, valued at $1,354,343.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ALLE. Mizuho lowered shares of Allegion from a “buy” rating to a “neutral” rating and upped their price target for the stock from $140.00 to $141.00 in a research report on Friday, February 23rd. Wells Fargo & Company lowered shares of Allegion from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $139.00 to $140.00 in a research report on Wednesday, February 21st. UBS Group upped their price target on shares of Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. Finally, Barclays downgraded shares of Allegion from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $122.00 to $116.00 in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $126.83.

Check Out Our Latest Stock Analysis on ALLE

Allegion Price Performance

ALLE stock opened at $117.50 on Tuesday. Allegion plc has a one year low of $95.94 and a one year high of $136.91. The company’s fifty day moving average price is $124.64 and its 200-day moving average price is $124.39. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.87 and a current ratio of 1.31. The company has a market capitalization of $10.27 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 3.68 and a beta of 1.16.

Allegion (NYSE:ALLEGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The company had revenue of $893.90 million for the quarter, compared to the consensus estimate of $888.27 million. Allegion had a net margin of 14.93% and a return on equity of 48.58%. Allegion’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 earnings per share. On average, equities analysts anticipate that Allegion plc will post 7.08 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Friday, June 14th. Allegion’s payout ratio is 31.32%.

Allegion Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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