Evergreen Capital Management LLC Acquires 19,657 Shares of Allegion PLC $ALLE

Key Points

• Evergreen Capital Management initiated a position in Allegion, purchasing 19,657 shares valued at approximately $3.0 million. Institutional investors collectively own 92.21% of the company.
• Allegion reported quarterly results above expectations, with earnings per share of $2.60 versus the $2.50 consensus estimate and revenue of $1.17 billion, up 9.6% year over year.
• The company pays a quarterly dividend of $0.55 per share, or $2.20 annually, representing a 1.2% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $179.60.

Evergreen Capital Management LLC acquired a new position in shares of Allegion PLC (NYSE:ALLE - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 19,657 shares of the scientific and technical instruments company's stock, valued at approximately $3,023,000.

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

Allegion Trading Down 0.4%

NYSE ALLE opened at $178.33 on Tuesday. The company's 50-day moving average price is $156.74 and its 200-day moving average price is $150.37. The company has a current ratio of 1.90, a quick ratio of 1.24 and a debt-to-equity ratio of 0.94. The stock has a market cap of $15.04 billion, a PE ratio of 22.21, a PEG ratio of 3.59 and a beta of 0.81. Allegion PLC has a 12 month low of $125.00 and a 12 month high of $183.11.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings data 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. Allegion had a net margin of 15.74% and a return on equity of 35.52%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $2.30 EPS. The firm's revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts forecast that Allegion PLC will post 9.04 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently announced 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. 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 (DPR) is 27.40%.

Analyst Ratings Changes

Several brokerages have issued reports on ALLE. 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 Allegion from $170.00 to $183.00 and gave the company a "neutral" rating in a research note on Friday. Evercore reiterated an "outperform" rating and issued a $180.00 price target on shares of Allegion in a report on Tuesday, September 22nd. Mizuho set a $180.00 price target on Allegion in a research note on Friday. Finally, Robert W. Baird set a $196.00 price objective on Allegion in a report on Friday. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Allegion currently has a consensus rating of "Moderate Buy" and an average target price of $179.60.

Insider Buying and Selling

In other news, Director Steven Mizell purchased 170 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average price of $158.28 per share, for a total transaction of $26,907.60. Following the completion of the acquisition, the director owned 5,899 shares of the company's stock, valued at approximately $933,693.72. This trade represents a 2.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Vincent Wenos sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $168.25, for a total value of $168,250.00. Following the completion of the sale, the senior vice president owned 12,096 shares of the company's stock, valued at $2,035,152. The trade was a 7.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.64% of the company's stock.

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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