Wealth Enhancement Advisory Services LLC Increases Holdings in Allegion PLC $ALLE

Wealth Enhancement Advisory Services LLC boosted its position in shares of Allegion PLC (NYSE:ALLE) by 90.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,067 shares of the scientific and technical instruments company’s stock after purchasing an additional 35,556 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.09% of Allegion worth $13,289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALLE. Rovin Capital UT ADV lifted its stake in shares of Allegion by 1.6% in the 3rd quarter. Rovin Capital UT ADV now owns 4,207 shares of the scientific and technical instruments company’s stock valued at $746,000 after purchasing an additional 66 shares during the last quarter. DMC Group LLC raised its stake in shares of Allegion by 2.6% in the 3rd quarter. DMC Group LLC now owns 4,171 shares of the scientific and technical instruments company’s stock valued at $740,000 after acquiring an additional 105 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Allegion by 5.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,356,869 shares of the scientific and technical instruments company’s stock valued at $417,991,000 after purchasing an additional 113,821 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Allegion by 207.5% during the third quarter. Richardson Financial Services Inc. now owns 329 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 222 shares in the last quarter. Finally, Csenge Advisory Group purchased a new position in shares of Allegion during the third quarter worth $303,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ALLE. Robert W. Baird boosted their price target on shares of Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Barclays lowered their price objective on Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a research 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 reaffirmed a “buy (b)” rating on shares of Allegion in a report on Wednesday. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Allegion presently has a consensus rating of “Hold” and a consensus target price of $174.25.

Allegion Stock Performance

Shares of ALLE opened at $166.92 on Friday. The company has a 50-day moving average of $162.01 and a two-hundred day moving average of $165.94. The stock has a market cap of $14.36 billion, a P/E ratio of 22.59, a PEG ratio of 3.03 and a beta of 1.04. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $180.68. 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 (NYSE:ALLE) last released its quarterly earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.09. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Allegion had a return on equity of 40.83% and a net margin of 16.09%.The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 earnings per share. As a group, research analysts predict that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were given a dividend of $0.51 per share. The ex-dividend date was Tuesday, December 16th. This represents a $2.04 annualized dividend and a yield of 1.2%. Allegion’s dividend payout ratio is 27.60%.

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.