Old West Investment Management LLC Has $5 Million Stock Holdings in Allegion PLC $ALLE

Old West Investment Management LLC boosted its holdings in Allegion PLC (NYSE:ALLE) by 13.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,206 shares of the scientific and technical instruments company’s stock after buying an additional 3,439 shares during the quarter. Allegion makes up 1.1% of Old West Investment Management LLC’s holdings, making the stock its 29th biggest holding. Old West Investment Management LLC’s holdings in Allegion were worth $5,002,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Allegion by 16.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 424 shares of the scientific and technical instruments company’s stock valued at $75,000 after acquiring an additional 60 shares during the last quarter. Huntington National Bank raised its holdings in Allegion by 7.7% during the 2nd quarter. Huntington National Bank now owns 853 shares of the scientific and technical instruments company’s stock worth $123,000 after purchasing an additional 61 shares during the last quarter. HM Payson & Co. raised its stake in Allegion by 2.4% during the third quarter. HM Payson & Co. now owns 2,644 shares of the scientific and technical instruments company’s stock worth $469,000 after buying an additional 63 shares during the last quarter. Fulton Bank N.A. raised its position in shares of Allegion by 4.5% in the 3rd quarter. Fulton Bank N.A. now owns 1,529 shares of the scientific and technical instruments company’s stock worth $271,000 after acquiring an additional 66 shares in the last quarter. Finally, Rovin Capital UT ADV increased its holdings in Allegion by 1.6% in the third quarter. Rovin Capital UT ADV now owns 4,207 shares of the scientific and technical instruments company’s stock worth $746,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analysts Set New Price Targets

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

Allegion Stock Up 2.3%

Shares of NYSE ALLE opened at $179.91 on Friday. The business has a 50-day simple moving average of $163.32 and a two-hundred day simple moving average of $167.42. The company has a market cap of $15.48 billion, a P/E ratio of 24.35, a P/E/G ratio of 3.21 and a beta of 1.03. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $180.68. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 1.06.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.55 per share. 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 dividend on an annualized basis and a dividend yield of 1.2%. Allegion’s dividend payout ratio (DPR) is presently 27.60%.

About Allegion

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.