10,581 Shares in Allegion PLC $ALLE Acquired by Sowell Financial Services LLC

Key Points

• Sowell Financial Services acquired 10,581 Allegion shares during the third quarter, valued at approximately $1.63 million. Institutional investors and hedge funds collectively own 92.21% of the company.
• Allegion exceeded quarterly expectations, reporting $2.60 in EPS versus the $2.50 estimate and $1.17 billion in revenue, up 9.6% year over year.
• The company pays a quarterly dividend of $0.55 per share, representing a $2.20 annualized payout and a 1.2% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $179.60.

Sowell Financial Services LLC bought a new stake in Allegion PLC (NYSE:ALLE - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,581 shares of the scientific and technical instruments company's stock, valued at approximately $1,627,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Allegion by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company's stock worth $123,952,000 after purchasing an additional 13,186 shares during the period. Hawk Ridge Capital Management LP increased its position in shares of Allegion by 32.9% during the first quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company's stock worth $116,640,000 after buying an additional 198,800 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Allegion by 19.4% during the first quarter. The Manufacturers Life Insurance Company now owns 599,326 shares of the scientific and technical instruments company's stock worth $87,076,000 after buying an additional 97,304 shares during the period. Bank of America Corp DE raised its stake in Allegion by 5.5% during the first quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company's stock worth $78,766,000 after buying an additional 28,449 shares during the last quarter. Finally, Amundi raised its stake in Allegion by 2.4% during the first quarter. Amundi now owns 541,600 shares of the scientific and technical instruments company's stock worth $78,689,000 after buying an additional 12,917 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Activity at Allegion

In related news, Director Steven Mizell acquired 170 shares of the business's stock in a transaction dated Friday, August 28th. The shares were bought at an average price of $158.28 per share, with a total value of $26,907.60. Following the transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Vincent Wenos sold 1,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $168.25, for a total transaction of $168,250.00. Following the transaction, the senior vice president directly owned 12,096 shares in the company, valued at $2,035,152. This trade represents a 7.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,833 shares of company stock worth $2,104,090 over the last three months. 0.64% of the stock is currently owned by company insiders.

Allegion Stock Performance

NYSE:ALLE opened at $186.58 on Friday. The company has a fifty day moving average of $158.50 and a 200-day moving average of $150.81. The firm has a market capitalization of $15.73 billion, a P/E ratio of 23.24, a P/E/G ratio of 2.10 and a beta of 0.81. The company has a quick ratio of 1.24, a current ratio of 1.90 and a debt-to-equity ratio of 0.94. Allegion PLC has a twelve month low of $125.00 and a twelve month high of $189.59.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.50 by $0.10. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. Allegion had a net margin of 15.74% and a return on equity of 35.52%. Allegion's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.30 EPS. As a group, sell-side analysts anticipate that Allegion PLC will post 9.10 EPS for the current year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.55 per share. The ex-dividend date was Tuesday, September 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.2%. Allegion's dividend payout ratio is currently 27.40%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings raised shares of Allegion from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Mizuho set a $180.00 price target on Allegion in a report on Friday, October 23rd. Morgan Stanley set a $170.00 price objective on Allegion in a research report on Monday, October 26th. The Goldman Sachs Group boosted 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. Finally, Robert W. Baird set a $196.00 target price on Allegion in a research report on Friday, October 23rd. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $179.60.

Allegion Company Profile

Allegion plc NYSE: ALLE is a global security products and solutions company focused on protecting people and property. Its portfolio includes mechanical and electronic locks, access control systems, door closers, exit devices, door controls, and commercial doors and frames.

The company serves commercial, institutional, industrial, and residential customers through well-known brands including Schlage, Von Duprin, LCN, Steelcraft, Briton, and aptiQ. Its offerings range from traditional hardware to connected and electronic access solutions designed for offices, schools, healthcare facilities, multifamily properties, and homes.

Allegion was established as an independent public company in 2013 following its separation from Ingersoll Rand.

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