Bank of Nova Scotia Lowers Holdings in Allegion plc (NYSE:ALLE)

Bank of Nova Scotia trimmed its holdings in Allegion plc (NYSE:ALLEGet Rating) by 35.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,183 shares of the scientific and technical instruments company’s stock after selling 3,942 shares during the period. Bank of Nova Scotia’s holdings in Allegion were worth $703,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. State of Michigan Retirement System grew its position in Allegion by 0.4% in the first quarter. State of Michigan Retirement System now owns 26,544 shares of the scientific and technical instruments company’s stock worth $2,914,000 after acquiring an additional 93 shares during the period. Veritable L.P. lifted its stake in Allegion by 3.2% during the first quarter. Veritable L.P. now owns 3,771 shares of the scientific and technical instruments company’s stock worth $414,000 after purchasing an additional 117 shares in the last quarter. First Horizon Advisors Inc. lifted its stake 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 purchasing an additional 126 shares in the last quarter. Heritage Wealth Advisors lifted its stake in Allegion by 66.5% during the second quarter. Heritage Wealth Advisors now owns 333 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 133 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Allegion by 61.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 363 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 138 shares in the last quarter. 91.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Credit Suisse Group upped their price target on Allegion from $108.00 to $116.00 and gave the stock a “neutral” rating in a research note on Friday, October 28th. Mizuho decreased their price target on Allegion from $125.00 to $114.00 and set a “buy” rating on the stock in a research note on Wednesday, September 21st. Barclays decreased their price target on Allegion from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, October 3rd. StockNews.com started coverage on Allegion in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Morgan Stanley increased their price objective on Allegion from $98.00 to $107.00 and gave the company an “equal weight” rating in a research note on Friday, October 28th. 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 company. Based on data from MarketBeat.com, Allegion presently has a consensus rating of “Hold” and an average target price of $118.00.

Insider Buying and Selling at Allegion

In other Allegion news, CEO John H. Stone purchased 12,500 shares of the business’s stock in a transaction on Friday, October 28th. The shares were bought at an average cost of $104.45 per share, for a total transaction of $1,305,625.00. Following the completion of the purchase, the chief executive officer now directly owns 64,535 shares in the company, valued at $6,740,680.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.79% of the stock is owned by insiders.

Allegion Stock Up 2.0 %

Shares of NYSE ALLE opened at $112.96 on Friday. Allegion plc has a 12-month low of $87.33 and a 12-month high of $136.66. The company has a current ratio of 1.79, a quick ratio of 1.10 and a debt-to-equity ratio of 2.79. The stock has a market cap of $9.92 billion, a P/E ratio of 23.01, a PEG ratio of 2.80 and a beta of 1.07. The business’s fifty day simple moving average is $97.89 and its 200-day simple moving average is $101.64.

Allegion (NYSE:ALLEGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The scientific and technical instruments company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.19. Allegion had a return on equity of 59.82% and a net margin of 13.96%. The company had revenue of $913.70 million for the quarter, compared to analysts’ expectations of $873.58 million. During the same period last year, the firm earned $1.56 earnings per share. Allegion’s quarterly revenue was up 27.4% on a year-over-year basis. As a group, equities analysts predict that Allegion plc will post 5.46 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Thursday, September 15th. Allegion’s dividend payout ratio is presently 33.40%.

Allegion Company Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding ALLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegion plc (NYSE:ALLEGet Rating).

Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

Receive News & Ratings for Allegion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegion and related companies with MarketBeat.com's FREE daily email newsletter.