Schwab Charles Investment Management Inc. Increases Position in Allegion PLC (ALLE)

Schwab Charles Investment Management Inc. raised its stake in Allegion PLC (NYSE:ALLE) by 4.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 426,298 shares of the scientific and technical instruments company’s stock after buying an additional 19,987 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Allegion PLC were worth $32,271,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Allegion PLC by 5,286.4% in the first quarter. BlackRock Inc. now owns 5,209,003 shares of the scientific and technical instruments company’s stock valued at $394,319,000 after buying an additional 5,112,297 shares in the last quarter. FMR LLC boosted its stake in Allegion PLC by 213.9% in the fourth quarter. FMR LLC now owns 4,026,502 shares of the scientific and technical instruments company’s stock valued at $257,697,000 after buying an additional 2,743,842 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in Allegion PLC by 223.4% in the first quarter. Artisan Partners Limited Partnership now owns 1,293,790 shares of the scientific and technical instruments company’s stock valued at $97,940,000 after buying an additional 893,759 shares in the last quarter. Norges Bank acquired a new stake in Allegion PLC during the fourth quarter valued at approximately $41,760,000. Finally, TIAA CREF Investment Management LLC boosted its stake in Allegion PLC by 131.1% in the first quarter. TIAA CREF Investment Management LLC now owns 1,042,666 shares of the scientific and technical instruments company’s stock valued at $78,930,000 after buying an additional 591,517 shares in the last quarter. 90.86% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Allegion PLC (NYSE:ALLE)

Allegion PLC (NYSE ALLE) traded down 0.35% during midday trading on Tuesday, reaching $81.88. The company had a trading volume of 322,632 shares. Allegion PLC has a one year low of $61.47 and a one year high of $82.77. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 33.16 and a beta of 1.11. The company has a 50-day moving average price of $78.50 and a 200-day moving average price of $72.67.

Allegion PLC (NYSE:ALLE) last posted its earnings results on Thursday, April 27th. The scientific and technical instruments company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. Allegion PLC had a return on equity of 234.79% and a net margin of 10.50%. The firm had revenue of $548.80 million for the quarter, compared to the consensus estimate of $536.97 million. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts expect that Allegion PLC will post $3.72 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.78%. Allegion PLC’s dividend payout ratio (DPR) is 25.81%.

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Several equities research analysts recently commented on ALLE shares. Credit Suisse Group reaffirmed a “buy” rating and set a $89.00 target price on shares of Allegion PLC in a research note on Friday, April 28th. Robert W. Baird cut Allegion PLC from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $80.00 to $85.00 in a research note on Friday, April 28th. Zacks Investment Research raised Allegion PLC from a “sell” rating to a “hold” rating in a research note on Thursday, March 23rd. Finally, Imperial Capital raised their target price on Allegion PLC from $79.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $85.40.

In related news, SVP Jeffrey N. Braun sold 7,455 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $79.46, for a total value of $592,374.30. Following the sale, the senior vice president now owns 7,250 shares in the company, valued at approximately $576,085. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey M. Wood sold 4,071 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $79.87, for a total value of $325,150.77. Following the completion of the sale, the insider now owns 1,938 shares in the company, valued at approximately $154,788.06. The disclosure for this sale can be found here. Insiders have sold a total of 13,384 shares of company stock worth $1,064,660 in the last quarter. Company insiders own 0.64% of the company’s stock.

Allegion PLC Company Profile

Allegion Public Limited Company is a provider of security products and solutions. The Company offers a portfolio of mechanical and electronic security products across a range of brands. Its segments include Americas; Europe, Middle East, India and Africa (EMEIA), and Asia Pacific. Its products include door closers and controls; door and door frames (steel); electronic security products; electronic and biometric access control systems; exit devices; locks, locksets, portable locks and key systems; time, attendance and workforce productivity systems, and other accessories.

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