16,074 Shares in Allegion PLC $ALLE Purchased by Brighton Jones LLC

Key Points

• Brighton Jones LLC opened a new Allegion position, purchasing 16,074 shares worth approximately $2.47 million in the third quarter. Institutional investors and hedge funds collectively own 92.21% of the stock.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $180.70; Bank of America upgraded the stock to Buy and raised its target to $200.
• Allegion beat quarterly earnings and revenue estimates, reporting EPS of $2.60 and revenue of $1.17 billion; revenue increased 9.6% year over year. Two senior vice presidents also sold shares in October.

Brighton Jones LLC bought a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,074 shares of the scientific and technical instruments company's stock, valued at approximately $2,472,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ethic Inc. grew its position in Allegion by 592.3% during the third quarter. Ethic Inc. now owns 52,670 shares of the scientific and technical instruments company's stock worth $8,099,000 after buying an additional 45,062 shares in the last quarter. 180 Wealth Advisors LLC increased its stake in Allegion by 68.9% during the 3rd quarter. 180 Wealth Advisors LLC now owns 11,274 shares of the scientific and technical instruments company's stock worth $1,734,000 after acquiring an additional 4,598 shares during the period. StoneX Group Inc. acquired a new position in Allegion in the 3rd quarter valued at $354,000. International Assets Investment Management LLC raised its holdings in Allegion by 326.1% in the 3rd quarter. International Assets Investment Management LLC now owns 12,275 shares of the scientific and technical instruments company's stock valued at $1,888,000 after acquiring an additional 9,394 shares in the last quarter. Finally, Calamos Advisors LLC lifted its position in shares of Allegion by 2.1% during the 3rd quarter. Calamos Advisors LLC now owns 50,352 shares of the scientific and technical instruments company's stock valued at $7,743,000 after acquiring an additional 1,019 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALLE has been the topic of several analyst reports. Morgan Stanley increased their target price on Allegion from $170.00 to $181.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 3rd. Robert W. Baird set a $196.00 price target on Allegion in a research note on Friday, October 23rd. Mizuho set a $180.00 price objective on shares of Allegion in a research report on Friday, October 23rd. Bank of America upgraded shares of Allegion from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $164.00 to $200.00 in a research note on Friday, October 23rd. Finally, Evercore reiterated an "outperform" rating and set a $180.00 price objective on shares of Allegion in a research note on Tuesday, September 22nd. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $180.70.

Insider Buying and Selling at Allegion

In other news, SVP Tracy L. Kemp sold 4,469 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $178.81, for a total value of $799,101.89. Following the completion of the transaction, the senior vice president owned 11,358 shares of the company's stock, valued at approximately $2,030,923.98. This represents a 28.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy Eckersley sold 6,364 shares of the 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 of the company's stock, valued at $3,934,641.36. This trade represents a 22.41% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.64% of the company's stock.

Allegion Stock Up 2.6%

Shares of ALLE opened at $190.24 on Tuesday. Allegion PLC has a one year low of $125.00 and a one year high of $195.42. The company has a market cap of $16.04 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $162.00 and a two-hundred day simple moving average of $151.60.

Allegion (NYSE:ALLE - Get Free Report) last issued its earnings results 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 the consensus estimate of $1.14 billion. Allegion had a return on equity of 35.52% and a net margin of 15.74%. The company's revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.30 EPS. Research analysts forecast that Allegion PLC will post 9.10 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $2.20 annualized dividend and a yield of 1.2%. Allegion's dividend payout ratio (DPR) is 27.40%.

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.

Want to see what other hedge funds are holding ALLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegion PLC (NYSE:ALLE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.