HighTower Advisors LLC Increases Stock Position in Allegion plc (NYSE:ALLE)

HighTower Advisors LLC grew its stake in Allegion plc (NYSE:ALLEFree Report) by 721.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 233,462 shares of the scientific and technical instruments company’s stock after purchasing an additional 205,034 shares during the quarter. HighTower Advisors LLC owned approximately 0.27% of Allegion worth $24,335,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ALLE. Pathstone Family Office LLC grew its position in shares of Allegion by 65.8% during the 3rd quarter. Pathstone Family Office LLC now owns 8,784 shares of the scientific and technical instruments company’s stock valued at $915,000 after buying an additional 3,487 shares during the last quarter. Van ECK Associates Corp grew its position in Allegion by 20.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,773,767 shares of the scientific and technical instruments company’s stock worth $289,026,000 after purchasing an additional 467,772 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Allegion by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 712,027 shares of the scientific and technical instruments company’s stock worth $74,193,000 after purchasing an additional 7,265 shares during the last quarter. Spire Wealth Management grew its position in Allegion by 41.2% in the 3rd quarter. Spire Wealth Management now owns 35,196 shares of the scientific and technical instruments company’s stock worth $3,667,000 after purchasing an additional 10,272 shares during the last quarter. Finally, NewEdge Wealth LLC grew its position in Allegion by 8.8% in the 3rd quarter. NewEdge Wealth LLC now owns 23,945 shares of the scientific and technical instruments company’s stock worth $2,495,000 after purchasing an additional 1,927 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Trading Up 1.1 %

Shares of NYSE:ALLE opened at $131.91 on Friday. The firm has a fifty day moving average of $121.34 and a two-hundred day moving average of $111.45. The firm has a market capitalization of $11.58 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 3.78 and a beta of 1.14. Allegion plc has a 12-month low of $95.94 and a 12-month high of $132.95. The company has a quick ratio of 1.31, a current ratio of 2.03 and a debt-to-equity ratio of 1.63.

Allegion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.46%. This is a positive change from Allegion’s previous quarterly dividend of $0.45. Allegion’s dividend payout ratio (DPR) is 28.53%.

Insider Buying and Selling at Allegion

In other news, SVP Robert C. Martens sold 4,068 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $110.52, for a total transaction of $449,595.36. Following the transaction, the senior vice president now owns 6,714 shares in the company, valued at approximately $742,031.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ALLE. Wells Fargo & Company upped their target price on shares of Allegion from $119.00 to $139.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 19th. Vertical Research cut shares of Allegion from a “buy” rating to a “hold” rating and decreased their price objective for the company from $128.00 to $100.00 in a report on Thursday, October 19th. Finally, Barclays cut shares of Allegion from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $130.00 to $119.00 in a report on Monday, December 4th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Allegion currently has an average rating of “Hold” and a consensus target price of $122.29.

View Our Latest Stock Report on ALLE

Allegion Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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