Allegion PLC $ALLE Shares Acquired by Lido Advisors LLC

Key Points

• Lido Advisors increased its Allegion stake by 1,929.8% in Q3, adding 115,227 shares to hold 121,198 shares valued at about $18.6 million.
• Several other institutions also expanded their positions; institutional investors collectively own 92.21% of Allegion’s stock.
• Allegion beat quarterly earnings and revenue estimates, reporting EPS of $2.60 and revenue of $1.17 billion, up 9.6% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $180.70.

Lido Advisors LLC increased its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 1,929.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,198 shares of the scientific and technical instruments company's stock after purchasing an additional 115,227 shares during the quarter. Lido Advisors LLC owned approximately 0.14% of Allegion worth $18,637,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in Allegion by 30,063.6% in the 3rd 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 purchasing an additional 866,131 shares in the last quarter. M&G PLC grew its holdings in shares of Allegion by 1,426.2% during the third quarter. M&G PLC now owns 474,160 shares of the scientific and technical instruments company's stock worth $72,912,000 after buying an additional 443,091 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Allegion by 964.6% during the second quarter. Wellington Management Group LLP now owns 356,725 shares of the scientific and technical instruments company's stock worth $50,116,000 after buying an additional 323,218 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Allegion by 2,372.3% during the third quarter. Commonwealth Equity Services LLC now owns 256,374 shares of the scientific and technical instruments company's stock worth $39,423,000 after buying an additional 246,004 shares in the last quarter. Finally, Hawk Ridge Capital Management LP grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Insider Activity at Allegion

In related news, Director Steven Mizell purchased 170 shares of the business's stock in a transaction on 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 completion of the purchase, the director directly owned 5,899 shares in the company, valued at approximately $933,693.72. This trade represents a 2.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Tracy L. Kemp sold 4,469 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $178.81, for a total transaction of $799,101.89. Following the transaction, the senior vice president directly owned 11,358 shares in the company, valued at approximately $2,030,923.98. This represents a 28.24% decrease in their position. The SEC filing for this sale provides additional information. 0.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALLE. Bank of America raised shares of Allegion from a "neutral" rating to a "buy" rating and upped their price objective for the company from $164.00 to $200.00 in a research note on Friday, October 23rd. Robert W. Baird set a $196.00 target price on shares of Allegion in a research note on Friday, October 23rd. Mizuho set a $180.00 target price on shares of Allegion in a research note on Friday, October 23rd. The Goldman Sachs Group boosted their price target on Allegion from $182.00 to $206.00 and gave the company a "buy" rating in a report on Monday, October 26th. Finally, Weiss Ratings raised Allegion from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $180.70.

Allegion Stock Up 0.8%

Shares of NYSE:ALLE opened at $191.07 on Thursday. The stock's 50-day moving average price is $163.46 and its two-hundred day moving average price is $151.83. The company has a current ratio of 1.90, a quick ratio of 1.24 and a debt-to-equity ratio of 0.94. Allegion PLC has a 12-month low of $125.00 and a 12-month high of $195.42. The firm has a market cap of $16.11 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 2.14 and a beta of 0.82.

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

Allegion Announces Dividend

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

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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