US Bancorp DE Boosts Position in Allegion (ALLE)

US Bancorp DE raised its stake in Allegion (NYSE:ALLE) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,018 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,594 shares during the quarter. US Bancorp DE’s holdings in Allegion were worth $3,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of Allegion by 109.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,326 shares of the scientific and technical instruments company’s stock valued at $105,000 after acquiring an additional 692 shares during the last quarter. Macquarie Group Ltd. bought a new position in Allegion during the fourth quarter valued at $111,000. Commerzbank Aktiengesellschaft FI bought a new position in shares of Allegion in the first quarter worth $205,000. FDx Advisors Inc. bought a new position in shares of Allegion in the first quarter worth $209,000. Finally, Zeke Capital Advisors LLC bought a new position in shares of Allegion in the fourth quarter worth $205,000. 87.87% of the stock is owned by hedge funds and other institutional investors.

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In other Allegion news, CFO Patrick S. Shannon sold 20,200 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $85.83, for a total transaction of $1,733,766.00. Following the completion of the transaction, the chief financial officer now owns 68,790 shares of the company’s stock, valued at approximately $5,904,245.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas P. Ranck sold 10,480 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $84.64, for a total transaction of $887,027.20. The disclosure for this sale can be found here. Insiders sold a total of 57,415 shares of company stock valued at $4,924,641 in the last ninety days. 0.75% of the stock is currently owned by insiders.

Several equities research analysts recently issued reports on the company. Imperial Capital reissued an “outperform” rating and set a $94.00 price objective (up previously from $85.00) on shares of Allegion in a research note on Wednesday, February 21st. Zacks Investment Research upgraded Allegion from a “hold” rating to a “strong-buy” rating and set a $99.00 price objective on the stock in a report on Thursday, February 22nd. Wells Fargo & Co reissued an “outperform” rating and issued a $105.00 target price (up from $100.00) on shares of Allegion in a research note on Wednesday, February 21st. Berenberg Bank cut Allegion from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Barclays started coverage on Allegion in a research report on Thursday, February 15th. They set an “overweight” rating and a $100.00 price objective on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $94.60.

Shares of Allegion stock opened at $78.79 on Friday. The firm has a market capitalization of $7.53 billion, a P/E ratio of 19.90, a PEG ratio of 1.38 and a beta of 1.07. The company has a quick ratio of 1.17, a current ratio of 1.78 and a debt-to-equity ratio of 3.20. Allegion has a fifty-two week low of $73.85 and a fifty-two week high of $89.81.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, April 26th. The scientific and technical instruments company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.04). The firm had revenue of $613.10 million during the quarter, compared to the consensus estimate of $605.47 million. Allegion had a return on equity of 102.62% and a net margin of 11.21%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 EPS. sell-side analysts forecast that Allegion will post 4.48 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, June 14th. Allegion’s dividend payout ratio is currently 21.21%.

About Allegion

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

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