Korea Investment CORP Acquires 113,800 Shares of Allegion plc (NYSE:ALLE)

Korea Investment CORP increased its holdings in Allegion plc (NYSE:ALLE) by 271.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 155,800 shares of the scientific and technical instruments company’s stock after buying an additional 113,800 shares during the period. Korea Investment CORP owned 0.17% of Allegion worth $21,703,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Arkadios Wealth Advisors lifted its stake in Allegion by 310.3% in the 2nd quarter. Arkadios Wealth Advisors now owns 238 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 180 shares in the last quarter. Logan Capital Management Inc. purchased a new stake in Allegion in the 1st quarter worth approximately $30,000. Eagle Bay Advisors LLC purchased a new stake in Allegion in the 2nd quarter worth approximately $46,000. Maverick Capital Ltd. purchased a new stake in Allegion in the 1st quarter worth approximately $44,000. Finally, Exchange Traded Concepts LLC lifted its stake in Allegion by 363.6% in the 2nd quarter. Exchange Traded Concepts LLC now owns 408 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 320 shares in the last quarter. 88.73% of the stock is owned by institutional investors.

Shares of NYSE ALLE opened at $137.34 on Friday. Allegion plc has a 1 year low of $94.63 and a 1 year high of $148.70. The stock has a market cap of $12.32 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 3.66 and a beta of 1.19. The firm has a 50-day moving average of $139.69 and a 200 day moving average of $135.96. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.03 and a quick ratio of 1.48.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Wednesday, July 21st. The scientific and technical instruments company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. Allegion had a net margin of 16.12% and a return on equity of 65.52%. The company had revenue of $746.90 million during the quarter, compared to analysts’ expectations of $711.94 million. During the same period last year, the company posted $0.92 EPS. Allegion’s revenue was up 26.7% on a year-over-year basis. Research analysts expect that Allegion plc will post 5.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th will be issued a $0.36 dividend. The ex-dividend date is Wednesday, September 15th. This represents a $1.44 annualized dividend and a yield of 1.05%. Allegion’s dividend payout ratio (DPR) is presently 28.18%.

In other Allegion news, CEO David D. Petratis sold 2,841 shares of Allegion stock in a transaction dated Monday, July 26th. The shares were sold at an average price of $139.28, for a total value of $395,694.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.

Several analysts have recently weighed in on ALLE shares. Credit Suisse Group raised their price objective on shares of Allegion from $143.00 to $144.00 and gave the company a “neutral” rating in a research report on Friday, July 23rd. Barclays set a $138.67 price objective on shares of Allegion and gave the company an “overweight” rating in a research report on Friday, July 23rd. The Goldman Sachs Group upgraded shares of Allegion from a “neutral” rating to a “buy” rating and raised their price objective for the company from $158.00 to $174.00 in a research report on Friday, September 10th. Zacks Investment Research upgraded shares of Allegion from a “hold” rating to a “buy” rating and set a $149.00 price objective on the stock in a research report on Monday, August 30th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Allegion in a research report on Thursday, July 29th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $147.45.

Allegion Profile

Allegion Plc provides security products and solutions that keep people safe, secure and productiv. It operates through the following three geographic segments: Americas; Middle East, India, and Africa (EMEIA); and Asia Pacific. The Americas segment sells a range of products and solutions such locks, locksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products, and access control and time and attendance systems.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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