Franklin Resources Inc. Sells 12,020 Shares of Allegion plc (NYSE:ALLE)

Franklin Resources Inc. reduced its holdings in shares of Allegion plc (NYSE:ALLE) by 19.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,768 shares of the scientific and technical instruments company’s stock after selling 12,020 shares during the period. Franklin Resources Inc. owned about 0.06% of Allegion worth $7,438,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. McClarren Financial Advisors Inc. grew its holdings in shares of Allegion by 61.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 72 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Allegion during the third quarter valued at about $28,000. Crewe Advisors LLC grew its stake in shares of Allegion by 160.2% during the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. Concord Wealth Partners purchased a new position in shares of Allegion in the third quarter worth about $29,000. Finally, Cromwell Holdings LLC lifted its stake in shares of 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 acquiring an additional 92 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Allegion

In related news, CEO John H. Stone bought 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the sale, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This represents a 53.07 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Allegion Stock Up 1.2 %

Shares of Allegion stock opened at $132.18 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The company has a market cap of $11.49 billion, a P/E ratio of 20.30, a PEG ratio of 3.35 and a beta of 1.10. The company’s fifty day simple moving average is $141.83 and its two-hundred day simple moving average is $134.64.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.18. The company had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. Allegion’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.94 earnings per share. Research analysts anticipate that Allegion plc will post 7.41 EPS for the current year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Tuesday, December 17th. Allegion’s dividend payout ratio is presently 29.49%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays raised their price target on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. Wells Fargo & Company lifted their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Mizuho increased their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird boosted their price objective on shares of 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently 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.