Insider Selling: Allegion (NYSE:ALLE) SVP Sells $799,101.89 in Stock

Allegion PLC (NYSE:ALLE) SVP Tracy Kemp sold 4,469 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president directly owned 11,358 shares in the company, valued at $2,030,923.98. The trade was a 28.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Allegion Stock Up 3.6%

Shares of NYSE ALLE opened at $187.22 on Friday. Allegion PLC has a 1 year low of $125.00 and a 1 year high of $187.57. The firm’s 50 day moving average price is $158.00 and its 200 day moving average price is $150.69. The firm has a market cap of $15.79 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 2.04 and a beta of 0.81. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.24 and a current ratio of 1.90.

Allegion (NYSE:ALLE) last issued its quarterly earnings results 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. The company 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%. Allegion’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.30 EPS. As a group, sell-side analysts anticipate that Allegion PLC will post 9.10 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently disclosed 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 of this dividend 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 currently 27.40%.

Hedge Funds Weigh In On Allegion

A number of hedge funds have recently made changes to their positions in the stock. Continuum Advisory LLC purchased a new position in shares of Allegion in the 2nd quarter worth $25,000. Elevation Wealth Partners LLC boosted its holdings in Allegion by 1,666.7% in the second 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. J.Safra Asset Management Corp acquired a new position in Allegion in the second quarter valued at $42,000. Ameritas Advisory Services LLC purchased a new stake in Allegion during the second quarter valued at about $44,000. Finally, Brown Lisle Cummings Inc. grew its position in Allegion by 14,733.3% during the third quarter. Brown Lisle Cummings Inc. now owns 445 shares of the scientific and technical instruments company’s stock valued at $68,000 after acquiring an additional 442 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Morgan Stanley set a $170.00 target price on Allegion in a research note on Monday. Weiss Ratings raised Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Bank of America upgraded Allegion from a “neutral” rating to a “buy” rating and lifted their price target for the company from $164.00 to $200.00 in a report on Friday, October 23rd. Mizuho set a $180.00 price objective on shares of Allegion in a research note on Friday, October 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of Allegion from $182.00 to $206.00 and gave the stock a “buy” rating in a report on Monday. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Allegion presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.60.

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.