Wahed Invest LLC Invests $290,000 in Allegion plc (NYSE:ALLE)

Wahed Invest LLC purchased a new position in Allegion plc (NYSE:ALLE) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,221 shares of the scientific and technical instruments company’s stock, valued at approximately $290,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Allegion by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company’s stock worth $1,400,688,000 after buying an additional 177,808 shares in the last quarter. Boston Partners boosted its stake in Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock valued at $616,503,000 after purchasing an additional 488,390 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Allegion by 1.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company’s stock worth $509,313,000 after purchasing an additional 38,377 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Allegion by 8.1% in the fourth quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after purchasing an additional 257,175 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Allegion by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company’s stock valued at $280,607,000 after purchasing an additional 41,417 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

NYSE:ALLE opened at $140.84 on Friday. The stock has a 50-day simple moving average of $128.38 and a two-hundred day simple moving average of $133.48. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The firm has a market capitalization of $12.14 billion, a PE ratio of 20.65, a P/E/G ratio of 3.97 and a beta of 1.01.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.18. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The company had revenue of $941.90 million during the quarter, compared to analyst estimates of $918.53 million. During the same period in the prior year, the firm posted $1.55 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts forecast that Allegion plc will post 7.77 EPS for the current year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, June 13th. Allegion’s dividend payout ratio is currently 28.65%.

Analyst Ratings Changes

A number of brokerages have weighed in on ALLE. Robert W. Baird boosted their target price on Allegion from $144.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Barclays increased their price objective on shares of Allegion from $126.00 to $128.00 and gave the company an “underweight” rating in a research report on Friday, April 25th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley increased their price target on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, Allegion presently has an average rating of “Hold” and an average price target of $140.40.

Insiders Place Their Bets

In related news, SVP David S. Ilardi sold 789 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the completion of the sale, the senior vice president now owns 9,625 shares in the company, valued at approximately $1,205,820. This trade represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Tracy L. Kemp sold 2,032 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the transaction, the senior vice president now directly owns 10,273 shares in the company, valued at approximately $1,302,000.02. This represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,224 shares of company stock worth $406,636. Corporate insiders own 0.33% of the company’s stock.

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.