Portside Wealth Group LLC Purchases 174 Shares of Allegion plc (NYSE:ALLE)

Portside Wealth Group LLC raised its holdings in shares of Allegion plc (NYSE:ALLE) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,694 shares of the scientific and technical instruments company’s stock after purchasing an additional 174 shares during the quarter. Portside Wealth Group LLC’s holdings in Allegion were worth $393,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its position in shares of Allegion by 22.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 105,089 shares of the scientific and technical instruments company’s stock worth $14,157,000 after acquiring an additional 19,570 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Allegion in the second quarter worth approximately $3,762,000. QRG Capital Management Inc. lifted its holdings in shares of Allegion by 118.4% in the second quarter. QRG Capital Management Inc. now owns 16,277 shares of the scientific and technical instruments company’s stock valued at $1,923,000 after purchasing an additional 8,824 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Allegion by 1,386.0% during the first quarter. Bessemer Group Inc. now owns 16,985 shares of the scientific and technical instruments company’s stock valued at $2,288,000 after buying an additional 15,842 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Allegion during the first quarter worth $662,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

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

Allegion Price Performance

Allegion stock opened at $143.78 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The business’s 50 day simple moving average is $143.32 and its 200 day simple moving average is $131.13. Allegion plc has a 12 month low of $101.11 and a 12 month high of $156.10. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 3.34 and a beta of 1.11.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.18. The company had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.94 EPS. Sell-side analysts forecast that Allegion plc will post 7.45 EPS for the current year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 annualized dividend and a yield of 1.34%. Allegion’s dividend payout ratio is currently 29.49%.

Insider Buying and Selling at Allegion

In other news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

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.