Fusion Capital LLC Purchases New Position in Allegion PLC $ALLE

Fusion Capital LLC acquired a new stake in Allegion PLC (NYSE:ALLE) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 26,580 shares of the scientific and technical instruments company’s stock, valued at approximately $4,406,000. Allegion makes up about 1.3% of Fusion Capital LLC’s portfolio, making the stock its 26th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Allegion by 7.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,592 shares of the scientific and technical instruments company’s stock valued at $1,251,000 after purchasing an additional 626 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Allegion by 35.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,272 shares of the scientific and technical instruments company’s stock worth $427,000 after acquiring an additional 854 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Allegion by 44.2% in the first quarter. Jones Financial Companies Lllp now owns 1,629 shares of the scientific and technical instruments company’s stock worth $213,000 after buying an additional 499 shares during the period. Empowered Funds LLC increased its holdings in Allegion by 13.0% in the 1st quarter. Empowered Funds LLC now owns 5,673 shares of the scientific and technical instruments company’s stock worth $740,000 after acquiring an additional 651 shares in the last quarter. Finally, Focus Partners Wealth raised its stake in Allegion by 204.5% during the 1st quarter. Focus Partners Wealth now owns 7,186 shares of the scientific and technical instruments company’s stock worth $937,000 after acquiring an additional 4,826 shares during the period. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 3.1%

Shares of ALLE opened at $172.98 on Thursday. The firm has a market capitalization of $14.88 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 3.06 and a beta of 1.03. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.77 and a quick ratio of 1.11. Allegion PLC has a 1-year low of $116.57 and a 1-year high of $180.68. The company has a 50-day moving average of $162.84 and a 200 day moving average of $167.15.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were issued a $0.51 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.2%. Allegion’s payout ratio is presently 27.60%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research note on Wednesday, January 21st. Barclays cut their target price on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, January 7th. Wells Fargo & Company reaffirmed a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Finally, Robert W. Baird boosted their target price on shares of Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $174.25.

Allegion Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.