Financial & Tax Architects LLC Buys Shares of 4,664 Allegion PLC $ALLE

Financial & Tax Architects LLC bought a new position in shares of Allegion PLC (NYSE:ALLE) during the third quarter, Holdings Channel reports. The institutional investor bought 4,664 shares of the scientific and technical instruments company’s stock, valued at approximately $827,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Westside Investment Management Inc. raised its stake in Allegion by 100.0% during the third quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 70 shares during the period. First Horizon Corp bought a new position in shares of Allegion during the third quarter valued at approximately $26,000. Hantz Financial Services Inc. grew its holdings in shares of Allegion by 120.9% during the third quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Allegion during the 3rd quarter worth approximately $29,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Allegion in the 2nd quarter worth approximately $33,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Price Performance

Shares of NYSE ALLE opened at $175.93 on Friday. The stock has a market cap of $15.14 billion, a P/E ratio of 23.81, a P/E/G ratio of 3.16 and a beta of 1.03. The firm’s 50-day simple moving average is $163.05 and its 200 day simple moving average is $167.21. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $180.68. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 1.06.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.3%. This is a positive change from Allegion’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, March 13th. Allegion’s payout ratio is currently 27.60%.

Wall Street Analyst Weigh In

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

About Allegion

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.