JPMorgan Chase & Co. Sells 388,163 Shares of Allegion plc (NYSE:ALLE)


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JPMorgan Chase & Co. cut its position in shares of Allegion plc (NYSE:ALLE) by 57.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 290,504 shares of the scientific and technical instruments company’s stock after selling 388,163 shares during the quarter. JPMorgan Chase & Co. owned 0.32% of Allegion worth $33,810,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Intercontinental Wealth Advisors LLC bought a new position in shares of Allegion during the fourth quarter worth about $203,000. Truist Financial Corp boosted its position in Allegion by 10.6% during the fourth quarter. Truist Financial Corp now owns 81,123 shares of the scientific and technical instruments company’s stock valued at $9,441,000 after purchasing an additional 7,750 shares during the last quarter. Zurich Insurance Group Ltd FI boosted its position in Allegion by 18.0% during the fourth quarter. Zurich Insurance Group Ltd FI now owns 122,202 shares of the scientific and technical instruments company’s stock valued at $14,222,000 after purchasing an additional 18,680 shares during the last quarter. Jane Street Group LLC boosted its position in Allegion by 286.9% during the fourth quarter. Jane Street Group LLC now owns 19,486 shares of the scientific and technical instruments company’s stock valued at $2,268,000 after purchasing an additional 14,450 shares during the last quarter. Finally, Freedman Financial Associates Inc. acquired a new position in Allegion during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 93.20% of the company’s stock.

Allegion stock opened at $131.36 on Thursday. The stock’s fifty day moving average price is $117.50 and its two-hundred day moving average price is $111.78. Allegion plc has a one year low of $89.83 and a one year high of $134.44. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.29 and a quick ratio of 1.70. The firm has a market cap of $11.92 billion, a PE ratio of 40.54 and a beta of 1.12.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Monday, February 15th. The scientific and technical instruments company reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.30. Allegion had a return on equity of 63.43% and a net margin of 11.12%. The firm had revenue of $727.30 million for the quarter, compared to analyst estimates of $690.85 million. During the same quarter last year, the company earned $1.28 EPS. Sell-side analysts expect that Allegion plc will post 4.8 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 17th were paid a $0.36 dividend. This is a positive change from Allegion’s previous quarterly dividend of $0.32. The ex-dividend date was Tuesday, March 16th. This represents a $1.44 annualized dividend and a dividend yield of 1.10%. Allegion’s dividend payout ratio (DPR) is presently 29.45%.

A number of research firms have recently issued reports on ALLE. Barclays raised Allegion from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $107.00 to $150.00 in a research report on Tuesday. Zacks Investment Research cut Allegion from a “buy” rating to a “hold” rating and set a $114.00 price objective for the company. in a research report on Friday, February 19th. Morgan Stanley raised their price objective on Allegion from $109.00 to $119.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 20th. Finally, Longbow Research raised Allegion from a “neutral” rating to a “buy” rating in a research report on Monday, March 22nd. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $114.44.

Allegion Company Profile

Allegion Plc provides security products and solutions that keep people safe, secure and productiv. It operates through the following three geographic segments: Americas; Middle East, India, and Africa (EMEIA); and Asia Pacific. The Americas segment sells a range of products and solutions such locks, locksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products, and access control and time and attendance systems.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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