SeaCrest Wealth Management LLC purchased a new position in shares of Allegion plc (NYSE:ALLE – Get Rating) during the second quarter, Holdings Channel reports. The firm purchased 639 shares of the scientific and technical instruments company’s stock, valued at approximately $63,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. acquired a new position in Allegion during the first quarter worth about $30,000. First Horizon Advisors Inc. boosted its position in Allegion by 85.1% during the first quarter. First Horizon Advisors Inc. now owns 274 shares of the scientific and technical instruments company’s stock worth $31,000 after acquiring an additional 126 shares during the last quarter. CX Institutional acquired a new position in Allegion during the second quarter worth about $27,000. Heritage Wealth Advisors boosted its holdings in Allegion by 66.5% in the 2nd quarter. Heritage Wealth Advisors now owns 333 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 133 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Allegion by 61.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 363 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 138 shares during the last quarter. 91.06% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Allegion
In other news, CEO John H. Stone acquired 12,500 shares of the company’s stock in a transaction on Friday, October 28th. The shares were bought at an average cost of $104.45 per share, with a total value of $1,305,625.00. Following the transaction, the chief executive officer now owns 64,535 shares in the company, valued at approximately $6,740,680.75. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.79% of the company’s stock.
Allegion Price Performance
Allegion (NYSE:ALLE – Get Rating) last announced its earnings results on Thursday, October 27th. The scientific and technical instruments company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.19. Allegion had a net margin of 13.96% and a return on equity of 59.82%. The firm had revenue of $913.70 million for the quarter, compared to the consensus estimate of $873.58 million. During the same period in the prior year, the firm earned $1.56 EPS. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. On average, research analysts forecast that Allegion plc will post 5.46 earnings per share for the current fiscal year.
Allegion Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, September 15th. Allegion’s dividend payout ratio is presently 33.40%.
Wall Street Analyst Weigh In
ALLE has been the topic of several recent analyst reports. Credit Suisse Group boosted their target price on shares of Allegion from $108.00 to $116.00 and gave the company a “neutral” rating in a report on Friday, October 28th. Mizuho decreased their target price on shares of Allegion from $125.00 to $114.00 and set a “buy” rating on the stock in a report on Wednesday, September 21st. Wells Fargo & Company boosted their target price on shares of Allegion from $114.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, October 28th. StockNews.com assumed coverage on shares of Allegion in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Barclays reduced their price target on shares of Allegion from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $118.00.
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, 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 and door systems; and other accessories.
- Get a free copy of the StockNews.com research report on Allegion (ALLE)
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