Victory Capital Management Inc. Grows Stock Holdings in Allegion plc (NYSE:ALLE)

Victory Capital Management Inc. lifted its position in shares of Allegion plc (NYSE:ALLE) by 1.9% during the third quarter, Holdings Channel.com reports. The firm owned 60,745 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,160 shares during the period. Victory Capital Management Inc.’s holdings in Allegion were worth $8,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its holdings in Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 72 shares in the last quarter. Concord Wealth Partners acquired a new position in shares of Allegion during the 3rd quarter worth about $29,000. Cromwell Holdings LLC lifted its stake in Allegion by 65.2% in the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 92 shares in the last quarter. Crewe Advisors LLC boosted its holdings in Allegion by 160.2% in the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 149 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Allegion by 255.7% during the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Activity

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the sale, the senior vice president now directly owns 7,104 shares in the company, valued at $1,029,511.68. This represents a 53.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.33% of the company’s stock.

Allegion Price Performance

ALLE stock opened at $141.54 on Friday. Allegion plc has a 52-week low of $103.19 and a 52-week high of $156.10. The business has a fifty day moving average of $143.96 and a two-hundred day moving average of $132.08. The stock has a market cap of $12.30 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 3.30 and a beta of 1.11. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The firm had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same period in the prior year, the business posted $1.94 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.36%. Allegion’s dividend payout ratio is currently 29.49%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Wells Fargo & Company upped their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Mizuho boosted their price target on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays increased their price objective on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Finally, Robert W. Baird upped their price target on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $144.60.

Allegion Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.