45,062 Allegion PLC $ALLE Shares Purchased by Ethic Inc.

Key Points

• Ethic Inc. increased its Allegion stake by 592.3% in the third quarter, buying 45,062 shares to bring its total holdings to 52,670 shares, valued at about $8.1 million.
• Allegion beat quarterly estimates with earnings of $2.60 per share versus $2.50 expected, while revenue rose 9.6% year over year to $1.17 billion.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $180.70; the company also declared a quarterly dividend of $0.55 per share.

Ethic Inc. increased its holdings in shares of Allegion PLC (NYSE:ALLE - Free Report) by 592.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,670 shares of the scientific and technical instruments company's stock after purchasing an additional 45,062 shares during the quarter. Ethic Inc. owned 0.06% of Allegion worth $8,099,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in Allegion by 30,063.6% during the third quarter. International Assets Investment Management LLC now owns 869,012 shares of the scientific and technical instruments company's stock valued at $133,628,000 after buying an additional 866,131 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Allegion by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company's stock worth $123,952,000 after acquiring an additional 13,186 shares in the last quarter. Hawk Ridge Capital Management LP increased its position in shares of Allegion by 32.9% in 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 acquiring an additional 198,800 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Allegion by 19.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 599,326 shares of the scientific and technical instruments company's stock valued at $87,076,000 after acquiring an additional 97,304 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Allegion by 5.5% in the 1st quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company's stock valued at $78,766,000 after acquiring an additional 28,449 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Stock Up 0.0%

Shares of NYSE:ALLE opened at $185.48 on Monday. 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 52-week low of $125.00 and a 52-week high of $195.42. The company has a 50 day moving average of $161.34 and a two-hundred day moving average of $151.48. The company has a market capitalization of $15.64 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82.

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

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $0.55 per share. 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 payout ratio is 27.40%.

Insider Buying and Selling

In other Allegion news, SVP Tracy Kemp sold 4,469 shares of the business's stock in a transaction on Monday, October 26th. The shares were sold at an average price of $178.81, for a total value of $799,101.89. Following the transaction, the senior vice president owned 11,358 shares in the company, valued at $2,030,923.98. The trade was a 28.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Timothy P. Eckersley sold 6,364 shares of the company's stock in a transaction dated Monday, October 26th. The shares were 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 approximately $3,934,641.36. The trade was a 22.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ALLE shares. Bank of America upgraded shares of Allegion from a "neutral" rating to a "buy" rating and lifted their target price for the company from $164.00 to $200.00 in a report on Friday, October 23rd. Mizuho set a $180.00 price target on Allegion in a report on Friday, October 23rd. The Goldman Sachs Group raised their price objective on Allegion from $182.00 to $206.00 and gave the company a "buy" rating in a research report on Monday, October 26th. Weiss Ratings upgraded Allegion from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Finally, Morgan Stanley boosted their price objective on Allegion from $170.00 to $181.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 3rd. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Allegion currently has a consensus rating of "Moderate Buy" and an average target price of $180.70.

Allegion 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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