Bank of Montreal Can Reduces Stock Position in Allegion plc (NYSE:ALLE)

Bank of Montreal Can cut its stake in Allegion plc (NYSE:ALLE) by 40.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 94,938 shares of the scientific and technical instruments company’s stock after selling 65,508 shares during the quarter. Bank of Montreal Can owned about 0.11% of Allegion worth $13,649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in shares of Allegion during the third quarter valued at about $666,840,000. Millennium Management LLC grew its stake in Allegion by 483.1% during the second quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock valued at $60,914,000 after acquiring an additional 427,146 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Allegion by 13.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock worth $277,581,000 after acquiring an additional 232,395 shares during the period. Renaissance Technologies LLC purchased a new stake in Allegion in the 2nd quarter worth approximately $27,056,000. Finally, AXA S.A. boosted its holdings in Allegion by 83.6% in the 2nd quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company’s stock valued at $39,179,000 after purchasing an additional 151,013 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Allegion Stock Performance

Shares of NYSE ALLE opened at $140.84 on Friday. The stock’s 50-day moving average is $143.88 and its 200 day moving average is $132.86. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 3.37 and a beta of 1.11. Allegion plc has a 1-year low of $103.57 and a 1-year high of $156.10. 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 (NYSE:ALLE) last posted its quarterly earnings results 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 the consensus estimate of $970.70 million. During the same period last year, the firm posted $1.94 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 yield of 1.36%. Allegion’s payout ratio is 29.49%.

Insider Activity

In other news, SVP Robert C. Martens sold 8,035 shares of the business’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 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. The trade was a 53.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Allegion Company 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.