Thrivent Financial for Lutherans Increases Stock Position in Allegion plc (NYSE:ALLE)

Thrivent Financial for Lutherans increased its position in Allegion plc (NYSE:ALLE) by 42.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,265 shares of the scientific and technical instruments company’s stock after buying an additional 1,576 shares during the period. Thrivent Financial for Lutherans’ holdings in Allegion were worth $768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALLE. Manning & Napier Advisors LLC acquired a new position in shares of Allegion in the 2nd quarter valued at about $3,762,000. QRG Capital Management Inc. grew its stake in Allegion by 118.4% during the second quarter. QRG Capital Management Inc. now owns 16,277 shares of the scientific and technical instruments company’s stock worth $1,923,000 after buying an additional 8,824 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Allegion in the second quarter worth $27,056,000. Raymond James & Associates raised its stake in shares of Allegion by 1.8% in the 2nd quarter. Raymond James & Associates now owns 447,195 shares of the scientific and technical instruments company’s stock valued at $52,836,000 after acquiring an additional 7,780 shares during the period. Finally, Andra AP fonden acquired a new position in shares of Allegion during the 2nd quarter valued at $10,704,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ALLE shares. Robert W. Baird increased 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. Mizuho raised their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays upped their price target on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One 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. According to MarketBeat.com, Allegion currently has an average rating of “Hold” and a consensus target price of $144.60.

Allegion Trading Up 0.1 %

Shares of ALLE opened at $140.48 on Wednesday. Allegion plc has a one year low of $104.25 and a one year high of $156.10. The stock has a 50-day moving average price of $143.77 and a 200 day moving average price of $133.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The company 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 released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.98 by $0.18. The company 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 EPS. Sell-side analysts forecast that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Friday, September 20th. Allegion’s payout ratio is currently 29.49%.

Insider Activity

In other news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction that occurred on 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 directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

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.