Allegion PLC $ALLE Shares Bought by Canoe Financial LP

Canoe Financial LP increased its stake in Allegion PLC (NYSE:ALLE - Free Report) by 623.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,847 shares of the scientific and technical instruments company's stock after purchasing an additional 27,443 shares during the period. Canoe Financial LP's holdings in Allegion were worth $4,913,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Continuum Advisory LLC bought a new stake in Allegion during the second quarter worth about $25,000. Elevation Wealth Partners LLC grew its stake in Allegion by 1,666.7% during the second quarter. Elevation Wealth Partners LLC now owns 212 shares of the scientific and technical instruments company's stock worth $30,000 after buying an additional 200 shares in the last quarter. J.Safra Asset Management Corp bought a new position in Allegion in the 2nd quarter valued at about $42,000. Ameritas Advisory Services LLC bought a new position in Allegion in the 2nd quarter valued at about $44,000. Finally, Brown Lisle Cummings Inc. raised its position in shares of Allegion by 14,733.3% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 445 shares of the scientific and technical instruments company's stock valued at $68,000 after buying an additional 442 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Buying and Selling at Allegion

In other news, SVP Vincent Wenos sold 1,000 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $168.25, for a total value of $168,250.00. Following the completion of the transaction, the senior vice president directly owned 12,096 shares in the company, valued at approximately $2,035,152. This represents a 7.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven Mizell purchased 170 shares of the company's stock in a transaction dated Friday, August 28th. The stock was purchased 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 $933,693.72. The trade was a 2.97% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.64% of the company's stock.

Allegion Stock Up 1.2%

ALLE stock opened at $158.99 on Thursday. The firm has a 50-day moving average price of $155.84 and a 200-day moving average price of $145.88. Allegion PLC has a 12 month low of $125.00 and a 12 month high of $183.11. The company has a current ratio of 1.93, a quick ratio of 1.23 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $13.52 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 3.19 and a beta of 0.81.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.18. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. Allegion had a net margin of 15.36% and a return on equity of 35.41%. The firm's revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.04 EPS. As a group, equities research analysts anticipate that Allegion PLC will post 8.94 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a $0.55 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.4%. Allegion's dividend payout ratio (DPR) is currently 28.87%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ALLE shares. Robert W. Baird set a $170.00 price target on shares of Allegion in a report on Friday, July 24th. Evercore reissued an "outperform" rating and issued a $180.00 price objective on shares of Allegion in a research note on Tuesday, September 22nd. Weiss Ratings upgraded shares of Allegion from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Allegion from $150.00 to $170.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $162.50.

Allegion 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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