54,112 Allegion PLC $ALLE Shares Acquired by CENTRAL TRUST Co

CENTRAL TRUST Co raised its stake in Allegion PLC (NYSE:ALLE) by 62,197.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 54,199 shares of the scientific and technical instruments company’s stock after buying an additional 54,112 shares during the period. CENTRAL TRUST Co’s holdings in Allegion were worth $8,334,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Continuum Advisory LLC acquired a new position in shares of Allegion during the second quarter worth $25,000. Elevation Wealth Partners LLC lifted its stake 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 acquiring an additional 200 shares during the last quarter. Valued Wealth Advisors LLC lifted its stake in shares of Allegion by 4,960.0% in the 3rd quarter. Valued Wealth Advisors LLC now owns 253 shares of the scientific and technical instruments company’s stock valued at $39,000 after acquiring an additional 248 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Allegion during the 2nd quarter valued at $42,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Allegion during the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ALLE shares. Bank of America upgraded Allegion from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $164.00 to $200.00 in a research report on Friday, October 23rd. Mizuho set a $180.00 target price on Allegion in a research report on Friday, October 23rd. Robert W. Baird set a $196.00 price target on Allegion in a research note on Friday, October 23rd. Weiss Ratings raised Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on Allegion from $170.00 to $183.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Allegion presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.70.

Allegion Price Performance

Shares of ALLE opened at $191.07 on Thursday. The business has a 50-day moving average of $163.46 and a 200-day moving average of $151.83. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24. The company has a market capitalization of $16.11 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82. Allegion PLC has a 1 year low of $125.00 and a 1 year high of $195.42.

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

Allegion Dividend Announcement

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

Insider Transactions at Allegion

In other news, SVP Tracy L. Kemp sold 4,469 shares of the stock in a transaction on Monday, October 26th. The shares were sold at an average price of $178.81, for a total transaction of $799,101.89. Following the completion of the sale, the senior vice president directly owned 11,358 shares in the company, valued at $2,030,923.98. This represents a 28.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Timothy Eckersley sold 6,364 shares of the stock in a transaction on 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 sale, the senior vice president 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 ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.64% of the company’s stock.

About Allegion

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.