1,170,619 Allegion PLC $ALLE Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments increased its Allegion stake by 898% in the third quarter, purchasing 1,170,619 shares and ending the period with 1,300,982 shares, worth about $200 million.
• Allegion’s latest quarterly results beat estimates: earnings were $2.60 per share versus $2.50 expected, and revenue reached $1.17 billion, up 9.6% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with a $180.70 average price target; Allegion also pays a quarterly dividend of $0.55 per share.

Russell Investments Group Ltd. raised its holdings in shares of Allegion PLC (NYSE:ALLE - Free Report) by 898.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,300,982 shares of the scientific and technical instruments company's stock after buying an additional 1,170,619 shares during the period. Russell Investments Group Ltd. owned about 1.54% of Allegion worth $200,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. DMC Group LLC boosted its stake in shares of Allegion by 2.4% during the third quarter. DMC Group LLC now owns 4,408 shares of the scientific and technical instruments company's stock valued at $678,000 after purchasing an additional 102 shares during the period. Wealth Alliance LLC grew its stake in Allegion by 4.5% in the 1st quarter. Wealth Alliance LLC now owns 2,644 shares of the scientific and technical instruments company's stock worth $384,000 after acquiring an additional 114 shares in the last quarter. Allworth Financial LP increased its position in shares of Allegion by 9.5% during the second quarter. Allworth Financial LP now owns 1,368 shares of the scientific and technical instruments company's stock worth $192,000 after acquiring an additional 119 shares during the period. Platform Technology Partners raised its stake in shares of Allegion by 7.6% during the third 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. Finally, NewEdge Advisors LLC raised its stake in shares of Allegion by 6.5% during the second quarter. NewEdge Advisors LLC now owns 2,274 shares of the scientific and technical instruments company's stock valued at $319,000 after acquiring an additional 138 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Allegion Trading Down 0.5%

NYSE:ALLE opened at $190.16 on Friday. Allegion PLC has a 12 month low of $125.00 and a 12 month high of $195.42. The firm has a fifty day simple moving average of $164.15 and a 200-day simple moving average of $151.95. The company has a current ratio of 1.90, a quick ratio of 1.24 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $16.03 billion, a P/E ratio of 23.68, a PEG ratio of 2.15 and a beta of 0.82.

Allegion (NYSE:ALLE - Get Free Report) last announced 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 firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. Allegion had a net margin of 15.74% and a return on equity of 35.52%. The business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.30 earnings per share. On average, equities research analysts anticipate that Allegion PLC will post 9.10 earnings per share for the current year.

Allegion Announces Dividend

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

Insider Activity

In other news, Director Steven Mizell acquired 170 shares of Allegion stock in a transaction dated Friday, August 28th. The stock was purchased 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 directly owned 5,899 shares in the company, valued at $933,693.72. This trade represents a 2.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tracy Kemp sold 4,469 shares of Allegion stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $178.81, for a total value of $799,101.89. Following the sale, the senior vice president directly owned 11,358 shares of the company's stock, valued at $2,030,923.98. This trade represents a 28.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALLE. Bank of America raised Allegion from a "neutral" rating to a "buy" rating and increased their price target for the stock from $164.00 to $200.00 in a research report on Friday, October 23rd. Weiss Ratings upgraded Allegion from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Evercore reiterated an "outperform" rating and issued a $180.00 price target on shares of Allegion in a research note on Tuesday, September 22nd. Mizuho set a $180.00 price target on Allegion in a research note on Friday, October 23rd. Finally, The Goldman Sachs Group upped their price objective on shares of Allegion from $182.00 to $206.00 and gave the company a "buy" rating in a report on Monday, October 26th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $180.70.

About Allegion

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.

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