Allegion plc (NYSE:ALLE) Shares Acquired by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV boosted its position in Allegion plc (NYSE:ALLE) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,373 shares of the scientific and technical instruments company’s stock after acquiring an additional 406 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Allegion were worth $3,149,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new position in Allegion in the fourth quarter valued at approximately $28,000. Robeco Institutional Asset Management B.V. increased its stake in Allegion by 19.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 3,823 shares during the last quarter. Ancora Advisors LLC increased its stake in Allegion by 153.3% in the third quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 230 shares during the last quarter. Headinvest LLC purchased a new position in Allegion in the third quarter valued at approximately $48,000. Finally, Signaturefd LLC increased its stake in Allegion by 20.9% in the fourth quarter. Signaturefd LLC now owns 765 shares of the scientific and technical instruments company’s stock valued at $97,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Price Performance

Allegion stock traded up $0.27 during midday trading on Wednesday, reaching $116.38. The company’s stock had a trading volume of 55,275 shares, compared to its average volume of 697,038. The firm has a market capitalization of $10.18 billion, a PE ratio of 18.93, a P/E/G ratio of 3.71 and a beta of 1.13. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.87 and a current ratio of 1.31. Allegion plc has a fifty-two week low of $95.94 and a fifty-two week high of $136.91. The stock’s 50 day simple moving average is $120.81 and its 200 day simple moving average is $125.35.

Allegion (NYSE:ALLE) 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, topping the consensus estimate of $1.45 by $0.10. The business had revenue of $893.90 million during the quarter, compared to the consensus estimate of $888.27 million. Allegion had a return on equity of 48.58% and a net margin of 14.93%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.58 EPS. On average, equities research analysts forecast that Allegion plc will post 7.09 earnings per share for the current year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, June 14th. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

Analyst Upgrades and Downgrades

ALLE has been the topic of a number of research reports. UBS Group raised their target price 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 upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Barclays lowered shares of Allegion from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $122.00 to $116.00 in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $126.83.

Insider Transactions at Allegion

In related news, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total value of $267,624.12. Following the completion of the transaction, the senior vice president now owns 11,103 shares of the company’s stock, valued at approximately $1,354,343.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

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.