Allegion PLC $ALLE Holdings Increased by M&G PLC

M&G PLC grew its position in Allegion PLC (NYSE:ALLE) by 1,426.2% during the 3rd quarter, Holdings Channel reports. The fund owned 474,160 shares of the scientific and technical instruments company’s stock after buying an additional 443,091 shares during the quarter. M&G PLC’s holdings in Allegion were worth $72,912,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in Allegion by 30,063.6% in the 3rd quarter. International Assets Investment Management LLC now owns 869,012 shares of the scientific and technical instruments company’s stock valued at $133,628,000 after purchasing an additional 866,131 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Allegion by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company’s stock worth $123,952,000 after buying 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 worth $116,640,000 after buying an additional 198,800 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Allegion by 19.4% in 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 buying an additional 97,304 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Allegion by 5.5% in the 1st quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company’s stock valued at $78,766,000 after buying an additional 28,449 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. 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 research note on Friday, October 23rd. Morgan Stanley increased their price objective on Allegion from $170.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 3rd. The Goldman Sachs Group raised their target price on Allegion from $182.00 to $206.00 and gave the company a “buy” rating in a report on Monday, October 26th. Robert W. Baird set a $196.00 target price on Allegion in a report on Friday, October 23rd. Finally, Evercore restated an “outperform” rating and set a $180.00 target price on shares of Allegion in a research report on Tuesday, September 22nd. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $180.70.

Allegion Trading Up 2.6%

NYSE ALLE opened at $190.24 on Tuesday. 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 PLC has a one year low of $125.00 and a one year high of $195.42. The company has a 50-day simple moving average of $162.00 and a 200-day simple moving average of $151.60. The firm has a market capitalization of $16.04 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, topping 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 analyst estimates of $1.14 billion. During the same quarter in the prior year, the business earned $2.30 earnings per share. Allegion’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Allegion PLC will post 9.10 earnings per share for the current year.

Allegion Dividend Announcement

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

Insider Transactions at Allegion

In other news, SVP Timothy P. Eckersley sold 6,364 shares of the stock in a transaction that occurred 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 directly owned 22,028 shares in the company, valued at approximately $3,934,641.36. This represents a 22.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Mizell purchased 170 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average cost of $158.28 per share, for a total transaction of $26,907.60. Following the acquisition, the director owned 5,899 shares in the company, valued at approximately $933,693.72. The trade was a 2.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 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.

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