Allegion PLC $ALLE Stock Position Boosted by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its Allegion stake by 326.1% in the third quarter, bringing its holdings to 12,275 shares valued at about $1.89 million. Institutional investors collectively own 92.21% of the stock.
• Allegion beat quarterly estimates, reporting earnings per share of $2.60 versus $2.50 expected and revenue of $1.17 billion versus $1.14 billion expected; revenue rose 9.6% year over year.
• Analysts give Allegion a “Moderate Buy” consensus, with an average price target of $180.70. The company’s shares opened at $185.48, and it pays an annualized dividend of $2.20 per share.

International Assets Investment Management LLC lifted its holdings in Allegion PLC (NYSE:ALLE - Free Report) by 326.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,275 shares of the scientific and technical instruments company's stock after purchasing an additional 9,394 shares during the quarter. International Assets Investment Management LLC's holdings in Allegion were worth $1,888,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Allegion by 1.6% during 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 raised its holdings in 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 acquiring an additional 198,800 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Allegion by 19.4% during the first 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 purchasing an additional 97,304 shares during the last quarter. Bank of America Corp DE grew its stake in Allegion by 5.5% in the first 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 purchasing an additional 28,449 shares in the last quarter. Finally, Amundi grew its stake in Allegion by 2.4% in the first quarter. Amundi now owns 541,600 shares of the scientific and technical instruments company's stock valued at $78,689,000 after purchasing an additional 12,917 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on ALLE shares. Morgan Stanley increased their price target on shares of Allegion from $170.00 to $181.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 3rd. Robert W. Baird set a $196.00 price objective 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 report on Friday, October 23rd. The Goldman Sachs Group raised their target price on shares of Allegion from $182.00 to $206.00 and gave the company a "buy" rating in a research note on Monday, October 26th. Finally, Evercore reiterated an "outperform" rating and issued a $180.00 target price on shares of Allegion in a research note on Tuesday, September 22nd. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $180.70.

Allegion Stock Performance

NYSE ALLE opened at $185.48 on Monday. The firm has a 50-day moving average price of $161.34 and a two-hundred day moving average price of $151.48. Allegion PLC has a 12-month low of $125.00 and a 12-month high of $195.42. The company has a market capitalization of $15.64 billion, a P/E ratio of 23.10, a P/E/G ratio of 2.09 and a beta of 0.82. 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 released its quarterly 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 company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.14 billion. Allegion had a net margin of 15.74% and a return on equity of 35.52%. The firm's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.30 earnings per share. Analysts anticipate that Allegion PLC will post 9.10 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given 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 dividend payout ratio is currently 27.40%.

Insiders Place Their Bets

In other Allegion news, SVP Tracy L. Kemp sold 4,469 shares of the firm's stock in a transaction on Monday, October 26th. The stock was sold at an average price of $178.81, for a total value of $799,101.89. Following the sale, the senior vice president 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Timothy Eckersley sold 6,364 shares of the firm'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 sale, the senior vice president directly owned 22,028 shares in the company, valued at approximately $3,934,641.36. This represents a 22.41% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.64% of the company's stock.

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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