Allegion PLC $ALLE Stock Holdings Trimmed by Asset Management One Co. Ltd.

Key Points

• Asset Management One cut its Allegion stake by 90.2% in the third quarter, selling 34,952 shares and ending the period with 3,803 shares worth about $585,000. Institutional investors overall own 92.21% of the stock.
• Allegion reported quarterly EPS of $2.60, topping the $2.50 consensus, while revenue of $1.17 billion exceeded estimates and rose 9.6% year over year.
• Analysts gave Allegion a consensus “Moderate Buy” rating and an average price target of $180.70; five analysts rated it Buy and four Hold.

Asset Management One Co. Ltd. cut its stake in shares of Allegion PLC (NYSE:ALLE - Free Report) by 90.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,803 shares of the scientific and technical instruments company's stock after selling 34,952 shares during the period. Asset Management One Co. Ltd.'s holdings in Allegion were worth $585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Evergreen Capital Management LLC purchased a new position in shares of Allegion in the third quarter valued at approximately $3,023,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Allegion by 5,141.6% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 11,846 shares of the scientific and technical instruments company's stock worth $1,822,000 after acquiring an additional 11,620 shares during the last quarter. Andra AP fonden boosted its stake in shares of Allegion by 382.8% in the second quarter. Andra AP fonden now owns 69,945 shares of the scientific and technical instruments company's stock worth $9,827,000 after acquiring an additional 55,459 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Allegion by 1,653.5% during the third quarter. GAMMA Investing LLC now owns 33,018 shares of the scientific and technical instruments company's stock worth $5,077,000 after purchasing an additional 31,135 shares in the last quarter. Finally, Regents Gate Capital LLP increased its position in shares of Allegion by 291.7% during the first quarter. Regents Gate Capital LLP now owns 165,622 shares of the scientific and technical instruments company's stock worth $24,063,000 after purchasing an additional 123,343 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Mizuho set a $180.00 price objective on Allegion in a research note on Friday, October 23rd. Weiss Ratings raised shares of Allegion from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Allegion from $170.00 to $183.00 and gave the stock a "neutral" rating in a report on Friday, October 23rd. The Goldman Sachs Group upped their target price on shares of Allegion from $182.00 to $206.00 and gave the stock a "buy" rating in a report on Monday, October 26th. Finally, Robert W. Baird set a $196.00 target price on shares of Allegion in a research report on Friday, October 23rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $180.70.

Insider Activity

In other Allegion news, Director Steven Mizell bought 170 shares of Allegion stock in a transaction on Friday, August 28th. The shares were bought at an average price of $158.28 per share, for a total transaction of $26,907.60. Following the completion of the transaction, the director directly owned 5,899 shares of the company's stock, valued at $933,693.72. This trade represents a 2.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Timothy Eckersley sold 6,364 shares of the company's stock in a transaction on Monday, October 26th. The shares were sold at an average price of $178.62, for a total value of $1,136,737.68. Following the completion of the transaction, the senior vice president directly owned 22,028 shares in the company, valued at approximately $3,934,641.36. This trade represents a 22.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,833 shares of company stock worth $2,104,090 in the last 90 days. 0.64% of the stock is owned by corporate insiders.

Allegion Stock Down 1.1%

Shares of NYSE:ALLE opened at $189.56 on Wednesday. Allegion PLC has a 52-week low of $125.00 and a 52-week high of $192.48. The stock has a market cap of $15.98 billion, a P/E ratio of 21.94, a PEG ratio of 2.16 and a beta of 0.82. The business has a fifty day moving average of $159.63 and a two-hundred day moving average of $151.10. 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 (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, topping the consensus estimate of $2.50 by $0.10. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. Allegion had a return on equity of 35.52% and a net margin of 15.74%. The company's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.30 EPS. On average, research analysts expect that Allegion PLC will post 9.10 earnings per share for the current year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Allegion's payout ratio is presently 27.40%.

About Allegion

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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