Envestnet Asset Management Inc. Raises Stock Position in Allegion PLC $ALLE

Envestnet Asset Management Inc. raised its holdings in Allegion PLC (NYSE:ALLE) by 1.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 533,666 shares of the scientific and technical instruments company’s stock after acquiring an additional 6,328 shares during the period. Envestnet Asset Management Inc.’s holdings in Allegion were worth $94,646,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Westside Investment Management Inc. boosted its stake in shares of Allegion by 100.0% in the third quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 70 shares during the last quarter. First Horizon Corp acquired a new position in Allegion in the third quarter valued at approximately $26,000. Atlantic Union Bankshares Corp purchased a new stake in Allegion in the 3rd quarter worth approximately $29,000. CYBER HORNET ETFs LLC purchased a new stake in Allegion in the 2nd quarter worth approximately $33,000. Finally, Spire Wealth Management grew its stake in shares of Allegion by 78.0% during the 2nd quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Up 2.3%

ALLE opened at $179.91 on Friday. The company has a market cap of $15.48 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 3.28 and a beta of 1.03. Allegion PLC has a twelve month low of $116.57 and a twelve month high of $180.68. The company has a 50-day moving average price of $163.32 and a 200 day moving average price of $167.53. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 1.06.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.55 dividend. This is a boost from Allegion’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. Allegion’s dividend payout ratio is presently 27.60%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Barclays lowered their price target on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 7th. Wells Fargo & Company reissued a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Robert W. Baird lifted their price target on Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $174.25.

Allegion Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.