Commonwealth Equity Services LLC Buys 246,004 Shares of Allegion PLC $ALLE

Commonwealth Equity Services LLC boosted its stake in Allegion PLC (NYSE:ALLE - Free Report) by 2,372.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 256,374 shares of the scientific and technical instruments company's stock after purchasing an additional 246,004 shares during the quarter. Commonwealth Equity Services LLC owned about 0.30% of Allegion worth $39,423,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Kestra Private Wealth Services LLC purchased a new stake in shares of Allegion during the 3rd quarter valued at $295,000. Chicago Partners Investment Group LLC raised its position in shares of Allegion by 334.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,547 shares of the scientific and technical instruments company's stock worth $1,530,000 after buying an additional 6,581 shares during the period. Covestor Ltd raised its position in shares of Allegion by 103.6% in the 3rd quarter. Covestor Ltd now owns 448 shares of the scientific and technical instruments company's stock worth $69,000 after buying an additional 228 shares during the period. Provenance Wealth Advisors LLC purchased a new position in shares of Allegion in the 3rd quarter worth $398,000. Finally, First Nebraska Trust Co acquired a new position in Allegion in the third quarter valued at $3,249,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. 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 research report on Monday, October 26th. Mizuho set a $180.00 price target on Allegion in a research note on Friday, October 23rd. Bank of America upgraded Allegion from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $164.00 to $200.00 in a report on Friday, October 23rd. Robert W. Baird set a $196.00 price objective on Allegion in a research note on Friday, October 23rd. Finally, Weiss Ratings upgraded Allegion from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $180.70.

Insider Activity at Allegion

In related news, Director Steven Mizell acquired 170 shares of Allegion stock in a transaction on Friday, August 28th. The shares were purchased at an average cost of $158.28 per share, for a total transaction of $26,907.60. Following the purchase, the director directly owned 5,899 shares of the company's stock, valued at $933,693.72. The trade was a 2.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy P. Eckersley sold 6,364 shares of the firm's stock in a transaction on Monday, October 26th. The stock was sold at an average price of $178.62, for a total transaction of $1,136,737.68. Following the transaction, the senior vice president directly owned 22,028 shares of the company's stock, valued at approximately $3,934,641.36. This 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 corporate insiders.

Allegion Price Performance

Shares of NYSE ALLE opened at $185.48 on Monday. Allegion PLC has a fifty-two week low of $125.00 and a fifty-two week high of $195.42. The business has a 50 day moving average price of $161.34 and a two-hundred day moving average price of $151.48. The company has a quick ratio of 1.24, a current ratio of 1.90 and a debt-to-equity ratio of 0.94. The firm has a market cap of $15.64 billion, a PE 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 announced its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $2.30 EPS. Allegion's quarterly revenue was up 9.6% on a year-over-year basis. Sell-side analysts expect that Allegion PLC will post 9.10 earnings per share for the current fiscal year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors 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 annualized dividend and a yield of 1.2%. Allegion's dividend payout ratio is currently 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.

Allegion was formed in 2013 when it separated from Ingersoll Rand.

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