Allegion plc (NYSE:ALLE) Stock Position Decreased by Valley National Advisers Inc.

Valley National Advisers Inc. trimmed its stake in Allegion plc (NYSE:ALLE) by 6.2% during the first quarter, Holdings Channel reports. The fund owned 10,022 shares of the scientific and technical instruments company’s stock after selling 661 shares during the quarter. Valley National Advisers Inc.’s holdings in Allegion were worth $1,349,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ALLE. LPL Financial LLC raised its stake in shares of Allegion by 49.1% in the 3rd quarter. LPL Financial LLC now owns 54,909 shares of the scientific and technical instruments company’s stock valued at $5,722,000 after acquiring an additional 18,080 shares in the last quarter. Federated Hermes Inc. grew its holdings in Allegion by 17.8% in the 3rd quarter. Federated Hermes Inc. now owns 6,992 shares of the scientific and technical instruments company’s stock valued at $729,000 after buying an additional 1,058 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Allegion by 2.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 8,031 shares of the scientific and technical instruments company’s stock valued at $837,000 after buying an additional 222 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Allegion by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 39,781 shares of the scientific and technical instruments company’s stock valued at $4,145,000 after buying an additional 205 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in Allegion by 28.5% in the 3rd quarter. Bank of Nova Scotia now owns 7,720 shares of the scientific and technical instruments company’s stock valued at $804,000 after buying an additional 1,714 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Allegion Stock Performance

Shares of NYSE:ALLE traded down $0.42 during trading on Wednesday, hitting $115.69. 247,369 shares of the stock were exchanged, compared to its average volume of 698,550. Allegion plc has a 1-year low of $95.94 and a 1-year high of $136.91. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 3.71 and a beta of 1.13. The company’s fifty day simple moving average is $120.59 and its 200-day simple moving average is $125.28. 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 (NYSE:ALLE) last announced its quarterly earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.45 by $0.10. The business had revenue of $893.90 million for the quarter, compared to analyst estimates of $888.27 million. Allegion had a return on equity of 48.58% and a net margin of 14.93%. Allegion’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.58 EPS. Sell-side analysts expect that Allegion plc will post 7.09 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Friday, June 14th. Allegion’s dividend payout ratio is 31.32%.

Insider Activity at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of Allegion stock in a transaction on Tuesday, May 28th. The stock was 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 in the company, valued at approximately $1,354,343.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on ALLE shares. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Monday. UBS Group raised their target price on Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Barclays lowered Allegion from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $122.00 to $116.00 in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $126.83.

Allegion 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.