Covestor Ltd Buys 139 Shares of Allegion plc (NYSE:ALLE)

Covestor Ltd increased its position in Allegion plc (NYSE:ALLE) by 29.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 617 shares of the scientific and technical instruments company’s stock after acquiring an additional 139 shares during the quarter. Covestor Ltd’s holdings in Allegion were worth $90,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ALLE. Boston Partners lifted its stake in Allegion by 1.5% in the 1st quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock worth $673,441,000 after purchasing an additional 72,773 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Allegion by 2.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock worth $442,019,000 after buying an additional 91,011 shares in the last quarter. Van ECK Associates Corp boosted its stake in Allegion by 1.3% during the third quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock valued at $479,577,000 after buying an additional 39,905 shares during the period. Massachusetts Financial Services Co. MA grew its position in Allegion by 7.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock worth $197,575,000 after buying an additional 120,870 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Allegion by 483.1% in the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock worth $60,914,000 after acquiring an additional 427,146 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

ALLE stock opened at $140.83 on Thursday. The firm has a market cap of $12.24 billion, a P/E ratio of 21.63, a P/E/G ratio of 3.36 and a beta of 1.11. The firm’s fifty day moving average is $143.58 and its 200 day moving average is $131.49. Allegion plc has a 52 week low of $103.19 and a 52 week high of $156.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The firm had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. During the same period last year, the firm earned $1.94 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts predict that Allegion plc will post 7.45 earnings per share for the current year.

Allegion Announces Dividend

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

Insider Activity

In related news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

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