International Assets Investment Management LLC raised its stake in Allegion PLC (NYSE:ALLE – Free Report) by 326.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,275 shares of the scientific and technical instruments company’s stock after buying an additional 9,394 shares during the period. International Assets Investment Management LLC’s holdings in Allegion were worth $1,888,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in ALLE. Calamos Advisors LLC increased its holdings in shares of Allegion by 2.1% during the third quarter. Calamos Advisors LLC now owns 50,352 shares of the scientific and technical instruments company’s stock worth $7,743,000 after buying an additional 1,019 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Allegion by 4,243.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 105,282 shares of the scientific and technical instruments company’s stock valued at $16,189,000 after acquiring an additional 102,858 shares in the last quarter. Platform Technology Partners boosted its holdings in shares of Allegion by 7.6% during the 3rd quarter. Platform Technology Partners now owns 1,854 shares of the scientific and technical instruments company’s stock valued at $285,000 after acquiring an additional 131 shares in the last quarter. Inscription Capital LLC boosted its holdings in shares of Allegion by 7.7% during the 3rd quarter. Inscription Capital LLC now owns 3,045 shares of the scientific and technical instruments company’s stock valued at $468,000 after acquiring an additional 218 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Allegion by 2,372.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 256,374 shares of the scientific and technical instruments company’s stock worth $39,423,000 after acquiring an additional 246,004 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on ALLE shares. Robert W. Baird set a $196.00 target price on Allegion in a report on Friday, October 23rd. Morgan Stanley lifted their price target on Allegion from $170.00 to $181.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 3rd. Weiss Ratings upgraded Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Bank of America upgraded Allegion from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $164.00 to $200.00 in a report on Friday, October 23rd. Finally, The Goldman Sachs Group upped their price objective on Allegion from $182.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, October 26th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $180.70.
Check Out Our Latest Analysis on ALLE
Allegion Price Performance
ALLE stock opened at $185.48 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.24 and a current ratio of 1.90. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $195.42. The company has a market capitalization of $15.64 billion, a P/E ratio of 23.10, a PEG ratio of 2.09 and a beta of 0.82. The company has a fifty day moving average price of $161.34 and a 200-day moving average price of $151.48.
Allegion (NYSE:ALLE – Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.10. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.14 billion. Allegion had a return on equity of 35.52% and a net margin of 15.74%. Allegion’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.30 earnings per share. As a group, equities analysts expect that Allegion PLC will post 9.10 EPS for the current year.
Allegion Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 15th. Allegion’s payout ratio is 27.40%.
Insider Activity
In other news, SVP Timothy Eckersley sold 6,364 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $178.62, for a total transaction of $1,136,737.68. Following the completion of the transaction, the senior vice president directly owned 22,028 shares in the company, valued at $3,934,641.36. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven Mizell acquired 170 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average cost of $158.28 per share, for a total transaction of $26,907.60. Following the completion of the purchase, the director owned 5,899 shares of the company’s stock, valued at $933,693.72. This trade represents a 2.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.64% of the company’s stock.
Allegion Company Profile
Allegion plc is a global provider of security products and solutions for homes, businesses, schools, hospitals and other institutions. Its offerings include mechanical and electronic locks, access-control systems, door closers, exit devices and related door hardware.
The company sells products under brands including Schlage, Von Duprin, LCN and CISA. Its solutions are used in both commercial and residential settings, with operations serving customers in North America and other markets around the world.
Allegion was formed in 2013 when it separated from Ingersoll Rand.
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