Dupont Capital Management Corp Cuts Stake in Allegion PLC (NYSE:ALLE)

Dupont Capital Management Corp lowered its holdings in shares of Allegion PLC (NYSE:ALLE) by 30.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,850 shares of the scientific and technical instruments company’s stock after selling 42,474 shares during the quarter. Dupont Capital Management Corp owned approximately 0.10% of Allegion worth $10,142,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ALLE. Commonwealth Bank of Australia boosted its stake in Allegion by 10.2% during the second quarter. Commonwealth Bank of Australia now owns 1,160 shares of the scientific and technical instruments company’s stock valued at $128,000 after buying an additional 107 shares during the last quarter. Creative Planning lifted its stake in shares of Allegion by 4.5% in the 2nd quarter. Creative Planning now owns 2,523 shares of the scientific and technical instruments company’s stock valued at $279,000 after purchasing an additional 109 shares during the last quarter. Advisor Partners LLC lifted its stake in shares of Allegion by 3.9% in the 2nd quarter. Advisor Partners LLC now owns 3,100 shares of the scientific and technical instruments company’s stock valued at $343,000 after purchasing an additional 116 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Allegion by 2.0% in the 2nd quarter. LPL Financial LLC now owns 6,913 shares of the scientific and technical instruments company’s stock valued at $764,000 after purchasing an additional 136 shares during the last quarter. Finally, Fruth Investment Management lifted its stake in shares of Allegion by 2.1% in the 2nd quarter. Fruth Investment Management now owns 7,573 shares of the scientific and technical instruments company’s stock valued at $837,000 after purchasing an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 92.57% of the company’s stock.

Shares of ALLE stock traded up $1.99 on Monday, reaching $115.32. 785,086 shares of the company’s stock were exchanged, compared to its average volume of 730,674. Allegion PLC has a 52 week low of $74.83 and a 52 week high of $116.55. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $10.61 billion, a PE ratio of 25.63, a P/E/G ratio of 2.12 and a beta of 1.18. The company’s fifty day simple moving average is $102.30 and its 200 day simple moving average is $101.56.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $1.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.14. Allegion had a return on equity of 69.28% and a net margin of 16.00%. The firm had revenue of $748.30 million during the quarter, compared to analyst estimates of $737.64 million. During the same period last year, the company earned $1.23 EPS. Allegion’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Allegion PLC will post 4.87 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Friday, September 13th. Allegion’s dividend payout ratio is currently 24.00%.

Several equities research analysts have recently issued reports on ALLE shares. Zacks Investment Research raised Allegion from a “sell” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Monday. Bank of America set a $125.00 price objective on Allegion and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Co raised their price objective on Allegion from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday. Credit Suisse Group raised their price objective on Allegion from $105.00 to $114.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Imperial Capital raised their price objective on Allegion from $105.00 to $116.00 and gave the company an “in-line” rating in a research note on Monday. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Allegion currently has an average rating of “Hold” and an average price target of $114.63.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.

Further Reading: How is Preferred Stock Different from Common Stock?

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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