Chicago Partners Investment Group LLC increased its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 334.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,547 shares of the scientific and technical instruments company's stock after acquiring an additional 6,581 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Allegion were worth $1,530,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. Continuum Advisory LLC bought a new position in shares of Allegion during the 2nd quarter worth about $25,000. Elevation Wealth Partners LLC lifted its stake in shares of Allegion by 1,666.7% in the second quarter. Elevation Wealth Partners LLC now owns 212 shares of the scientific and technical instruments company's stock valued at $30,000 after buying an additional 200 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Allegion in the second quarter valued at about $42,000. Ameritas Advisory Services LLC bought a new stake in shares of Allegion in the second quarter valued at about $44,000. Finally, Brown Lisle Cummings Inc. grew its position in Allegion by 14,733.3% during the third quarter. Brown Lisle Cummings Inc. now owns 445 shares of the scientific and technical instruments company's stock worth $68,000 after buying an additional 442 shares in the last quarter. 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 research reports. Robert W. Baird set a $196.00 price target on Allegion in a research note on Friday, October 23rd. The Goldman Sachs Group raised their price objective on Allegion from $182.00 to $206.00 and gave the stock a "buy" rating in a research report on Monday, October 26th. Evercore reissued an "outperform" rating and set a $180.00 price objective on shares of Allegion in a report on Tuesday, September 22nd. JPMorgan Chase & Co. boosted their price objective on Allegion from $170.00 to $183.00 and gave the company a "neutral" rating in a research report on Friday, October 23rd. Finally, Bank of America upgraded Allegion from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $164.00 to $200.00 in a research report on Friday, October 23rd. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Allegion presently has a consensus rating of "Moderate Buy" and a consensus target price of $180.70.
Read Our Latest Stock Report on ALLE
Insider Transactions at Allegion
In other Allegion news, SVP Tracy L. Kemp sold 4,469 shares of Allegion stock in a transaction 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 completion of the transaction, the senior vice president directly owned 11,358 shares of the company's stock, valued at approximately $2,030,923.98. This trade represents a 28.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy Eckersley sold 6,364 shares of the business'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 owned 22,028 shares in the company, valued at approximately $3,934,641.36. This trade represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.64% of the stock is currently owned by insiders.
Allegion Price Performance
Shares of Allegion stock opened at $185.48 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.24 and a current ratio of 1.90. The firm's 50-day simple moving average is $161.34 and its 200-day simple moving average is $151.48. Allegion PLC has a twelve month low of $125.00 and a twelve month high of $195.42. The firm has a market cap of $15.64 billion, a P/E 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 earnings per share for the quarter, beating analysts' consensus estimates of $2.50 by $0.10. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.14 billion. Allegion had a net margin of 15.74% and a return on equity of 35.52%. The firm's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.30 earnings per share. As a group, research analysts expect that Allegion PLC will post 9.10 EPS for the current fiscal year.
Allegion Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.2%. Allegion's dividend payout ratio is presently 27.40%.
Allegion Company Profile
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Free Report)
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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