3,886 Shares of Allegion PLC $ALLE Bought by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC acquired a new position in shares of Allegion PLC (NYSE:ALLE) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,886 shares of the scientific and technical instruments company’s stock, valued at approximately $598,000.

Other large investors have also recently bought and sold shares of the company. Continuum Advisory LLC bought a new position in Allegion in the 2nd quarter valued at about $25,000. Elevation Wealth Partners LLC raised its position in shares of Allegion by 1,666.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 212 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Allegion during the 2nd quarter worth approximately $42,000. Ameritas Advisory Services LLC bought a new stake in shares of Allegion during the 2nd quarter worth approximately $44,000. Finally, Brown Lisle Cummings Inc. boosted its position in shares of Allegion by 14,733.3% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 445 shares of the scientific and technical instruments company’s stock worth $68,000 after acquiring an additional 442 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Allegion from $170.00 to $183.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Mizuho set a $180.00 price objective on shares of Allegion in a research report on Friday, October 23rd. Robert W. Baird set a $196.00 target price on Allegion in a research note on Friday, October 23rd. Bank of America upgraded Allegion from a “neutral” rating to a “buy” rating and upped their target price for the stock from $164.00 to $200.00 in a research note on Friday, October 23rd. Finally, Weiss Ratings raised Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $180.70.

Allegion Stock Performance

NYSE:ALLE opened at $185.48 on Monday. Allegion PLC has a twelve month low of $125.00 and a twelve month high of $195.42. The company has a quick ratio of 1.24, a current ratio of 1.90 and a debt-to-equity ratio of 0.94. The stock’s 50-day simple moving average is $161.34 and its 200 day simple moving average is $151.48. The firm has a market capitalization of $15.64 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82.

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

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued 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 dividend yield of 1.2%. Allegion’s payout ratio is 27.40%.

Allegion Profile

Allegion plc is a global provider of security products and solutions for homes, businesses, schools, hospitals and other institutions. Its offerings include mechanical and electronic locks, access-control systems, door closers, exit devices and related door hardware.

The company sells products under brands including Schlage, Von Duprin, LCN and CISA. Its solutions are used in both commercial and residential settings, with operations serving customers in North America and other markets around the world.

Allegion was formed in 2013 when it separated from Ingersoll Rand.