Daiwa Securities Group Inc. Acquires 1,303 Shares of Allegion plc (NYSE:ALLE)

Daiwa Securities Group Inc. raised its holdings in shares of Allegion plc (NYSE:ALLE) by 13.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,811 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,303 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Allegion were worth $1,576,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ALLE. McClarren Financial Advisors Inc. grew its stake 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 worth $27,000 after acquiring an additional 72 shares in the last quarter. Crewe Advisors LLC boosted its holdings in shares of Allegion by 160.2% in the 2nd 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 acquired a new stake in shares of Allegion in the 3rd quarter valued at approximately $29,000. Cromwell Holdings LLC boosted its holdings 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 buying an additional 92 shares during the last quarter. Finally, Gradient Investments LLC acquired a new stake in shares of Allegion in the 2nd quarter valued at approximately $38,000. 92.21% of the stock is owned by institutional investors.

Allegion Trading Up 0.7 %

Shares of Allegion stock opened at $141.41 on Friday. The business has a fifty day simple moving average of $143.87 and a two-hundred day simple moving average of $132.72. Allegion plc has a 1 year low of $103.19 and a 1 year high of $156.10. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 3.40 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

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. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. During the same quarter last year, the firm posted $1.94 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Research analysts forecast that Allegion plc will post 7.41 EPS for the current year.

Allegion Announces Dividend

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

Insider Transactions at Allegion

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Mizuho increased their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays increased their price objective on 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 increased their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.