International Assets Investment Management LLC Invests $666.84 Million in Allegion plc (NYSE:ALLE)

International Assets Investment Management LLC bought a new position in shares of Allegion plc (NYSE:ALLE) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 457,555 shares of the scientific and technical instruments company’s stock, valued at approximately $666,840,000. International Assets Investment Management LLC owned about 0.52% of Allegion at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALLE. McClarren Financial Advisors Inc. grew its position in Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 72 shares during the last quarter. Crewe Advisors LLC grew its position in Allegion by 160.2% in the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. Gradient Investments LLC purchased a new position in Allegion in the 2nd quarter valued at $38,000. Kimelman & Baird LLC purchased a new position in Allegion in the 2nd quarter valued at $39,000. Finally, Blue Trust Inc. grew its position in Allegion by 54.0% in the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock valued at $41,000 after buying an additional 121 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Price Performance

Allegion stock opened at $150.86 on Thursday. Allegion plc has a 52 week low of $95.94 and a 52 week high of $156.10. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The firm’s 50-day simple moving average is $141.86 and its 200 day simple moving average is $130.00. The firm has a market capitalization of $13.19 billion, a PE ratio of 24.61, a P/E/G ratio of 4.50 and a beta of 1.12.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The business had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. During the same period in the previous year, the firm earned $1.76 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts predict that Allegion plc will post 7.26 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given a $0.48 dividend. The ex-dividend date was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.27%. Allegion’s dividend payout ratio is presently 31.32%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ALLE. Mizuho lifted their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Finally, Barclays boosted their target price on shares of Allegion from $117.00 to $135.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $142.25.

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.