US Bancorp DE cut its holdings in Allegion plc (NYSE:ALLE – Get Rating) by 8.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,567 shares of the scientific and technical instruments company’s stock after selling 865 shares during the quarter. US Bancorp DE’s holdings in Allegion were worth $857,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of ALLE. CX Institutional purchased a new position in shares of Allegion in the second quarter valued at $27,000. Private Trust Co. NA purchased a new position in shares of Allegion in the second quarter valued at $27,000. Adirondack Trust Co. grew its holdings in shares of Allegion by 59.0% in the third quarter. Adirondack Trust Co. now owns 318 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 118 shares in the last quarter. Heritage Wealth Advisors grew its holdings in shares of Allegion by 66.5% in the second 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 in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Allegion by 61.3% in the second 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 in the last quarter. 92.78% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Allegion
In other news, CEO John H. Stone acquired 12,500 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The stock was purchased at an average cost of $104.45 per share, for a total transaction of $1,305,625.00. Following the completion of the acquisition, the chief executive officer now directly owns 64,535 shares of the company’s stock, valued at approximately $6,740,680.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is currently owned by corporate insiders.
Allegion Stock Down 2.4 %
Allegion (NYSE:ALLE – Get Rating) last issued its earnings results on Thursday, October 27th. The scientific and technical instruments company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.19. The firm had revenue of $913.70 million during the quarter, compared to analyst estimates of $873.58 million. Allegion had a net margin of 13.96% and a return on equity of 59.82%. The business’s revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.56 earnings per share. Equities research analysts expect that Allegion plc will post 5.46 earnings per share for the current year.
Allegion Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 16th were issued a $0.41 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $1.64 annualized dividend and a dividend yield of 1.51%. Allegion’s payout ratio is currently 33.40%.
Analyst Ratings Changes
Several research analysts have commented on ALLE shares. Wells Fargo & Company lifted their price objective on shares of Allegion from $121.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday. Credit Suisse Group lifted their price objective on shares of Allegion from $108.00 to $116.00 and gave the stock a “neutral” rating in a research note on Friday, October 28th. Barclays lifted their price objective on shares of Allegion from $127.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, January 5th. Mizuho lifted their price objective on shares of Allegion from $114.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, January 13th. Finally, Vertical Research raised shares of Allegion from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a research note on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $119.22.
Allegion Company Profile
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.
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