The Manufacturers Life Insurance Company Sells 199 Shares of Allegion plc (NYSE:ALLE)

The Manufacturers Life Insurance Company lessened its stake in shares of Allegion plc (NYSE:ALLE) by 0.3% during the 3rd quarter, Holdings Channel reports. The fund owned 63,979 shares of the scientific and technical instruments company’s stock after selling 199 shares during the period. The Manufacturers Life Insurance Company’s holdings in Allegion were worth $9,324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ALLE. International Assets Investment Management LLC purchased a new position in Allegion during the 3rd quarter worth $666,840,000. Millennium Management LLC grew its stake in shares of 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 worth $60,914,000 after acquiring an additional 427,146 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Allegion by 13.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock valued at $277,581,000 after acquiring an additional 232,395 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Allegion in the 2nd quarter valued at approximately $27,056,000. Finally, AXA S.A. boosted its stake 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 worth $39,179,000 after purchasing an additional 151,013 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Insider Activity

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 transaction, the senior vice president now owns 7,104 shares in the company, valued at $1,029,511.68. The trade was a 53.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Mizuho raised their target price on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company boosted their price target on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Barclays lifted their price objective on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $144.60.

Allegion Stock Up 0.1 %

ALLE stock opened at $140.48 on Wednesday. Allegion plc has a 52 week low of $104.25 and a 52 week high of $156.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The firm has a 50-day simple moving average of $143.77 and a 200-day simple moving average of $133.11. The stock has a market capitalization of $12.21 billion, a P/E ratio of 21.58, a P/E/G ratio of 3.35 and a beta of 1.10.

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

Allegion Dividend Announcement

The firm 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 1.37%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s payout ratio is 29.49%.

About Allegion

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.