Allegion PLC $ALLE Stock: ProShare Advisors LLC Cuts Stake

ProShare Advisors LLC lowered its holdings in Allegion PLC (NYSE:ALLE) by 27.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,161 shares of the scientific and technical instruments company’s stock after selling 6,251 shares during the period. ProShare Advisors LLC’s holdings in Allegion were worth $2,485,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC lifted its position in shares of Allegion by 30,063.6% during the third quarter. International Assets Investment Management LLC now owns 869,012 shares of the scientific and technical instruments company’s stock worth $133,628,000 after acquiring an additional 866,131 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Allegion by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company’s stock valued at $123,952,000 after purchasing an additional 13,186 shares in the last quarter. Hawk Ridge Capital Management LP raised its stake in shares of Allegion by 32.9% during the 1st quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock valued at $116,640,000 after purchasing an additional 198,800 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Allegion by 19.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 599,326 shares of the scientific and technical instruments company’s stock valued at $87,076,000 after purchasing an additional 97,304 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Allegion by 5.5% during the 1st quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company’s stock worth $78,766,000 after purchasing an additional 28,449 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ALLE. Morgan Stanley raised their target price on Allegion from $170.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Tuesday. The Goldman Sachs Group increased their price target on shares of Allegion from $182.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Evercore restated an “outperform” rating and issued a $180.00 price objective on shares of Allegion in a research report on Tuesday, September 22nd. Weiss Ratings raised shares of Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Bank of America upgraded Allegion from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $164.00 to $200.00 in a research report on Friday, October 23rd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Allegion currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.70.

Allegion Price Performance

ALLE stock traded down $1.66 during midday trading on Friday, reaching $185.48. The company had a trading volume of 971,968 shares, compared to its average volume of 1,251,794. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24. Allegion PLC has a 1 year low of $125.00 and a 1 year high of $195.42. The company has a market capitalization of $15.64 billion, a P/E ratio of 23.10, a P/E/G ratio of 2.16 and a beta of 0.82. The firm has a 50-day moving average price of $161.34 and a 200-day moving average price of $151.48.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.10. Allegion had a net margin of 15.74% and a return on equity of 35.52%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company posted $2.30 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts anticipate that Allegion PLC will post 9.10 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $2.20 annualized dividend and a yield of 1.2%. Allegion’s payout ratio is 27.40%.

Insider Transactions at Allegion

In related news, SVP Timothy Eckersley sold 6,364 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $178.62, for a total transaction of $1,136,737.68. Following the transaction, the senior vice president directly owned 22,028 shares of the company’s stock, valued at approximately $3,934,641.36. This trade represents a 22.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven Mizell bought 170 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average price of $158.28 per share, with a total value of $26,907.60. Following the transaction, the director directly owned 5,899 shares in the company, valued at $933,693.72. The trade was a 2.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.64% of the company’s stock.

Allegion Company Profile

Allegion plc (NYSE:ALLE) is a global security products and solutions company focused on protecting people and property. Its portfolio includes mechanical and electronic locks, access control systems, door closers, exit devices, door controls, and commercial doors and frames.

The company serves commercial, institutional, industrial, and residential customers through well-known brands including Schlage, Von Duprin, LCN, Steelcraft, Briton, and aptiQ. Its offerings range from traditional hardware to connected and electronic access solutions designed for offices, schools, healthcare facilities, multifamily properties, and homes.

Allegion was established as an independent public company in 2013 following its separation from Ingersoll Rand.