W.H. Cornerstone Investments Inc. Purchases Shares of 5,464 Allegion PLC $ALLE

W.H. Cornerstone Investments Inc. purchased a new position in shares of Allegion PLC (NYSE:ALLE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,464 shares of the scientific and technical instruments company’s stock, valued at approximately $969,000.

Other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. boosted its stake in Allegion by 100.0% in the third quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 70 shares in the last quarter. First Horizon Corp bought a new stake in shares of Allegion in the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. lifted its holdings in shares of Allegion by 120.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Allegion in the 3rd quarter valued at $29,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Allegion during the 2nd quarter valued at $33,000. 92.21% of the stock is currently owned by institutional investors.

Allegion Stock Performance

Shares of NYSE:ALLE opened at $172.98 on Thursday. The company has a market cap of $14.88 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 3.06 and a beta of 1.03. The company has a 50-day moving average price of $162.84 and a 200-day moving average price of $167.15. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $180.68.

Allegion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.55 dividend. This is an increase from Allegion’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, March 13th. This represents a $2.20 annualized dividend and a yield of 1.3%. Allegion’s dividend payout ratio (DPR) is 27.60%.

Wall Street Analyst Weigh In

Several analysts have weighed in on ALLE shares. Wells Fargo & Company reissued a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Robert W. Baird lifted their price objective on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Barclays lowered their target price on Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Allegion currently has an average rating of “Hold” and an average target price of $174.25.

Allegion Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.