Foyston Gordon & Payne Inc Raises Stake in Allegion plc (NYSE:ALLE)

Foyston Gordon & Payne Inc lifted its stake in Allegion plc (NYSE:ALLE - Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64,655 shares of the scientific and technical instruments company's stock after purchasing an additional 4,762 shares during the quarter. Allegion comprises about 2.4% of Foyston Gordon & Payne Inc's holdings, making the stock its 15th largest holding. Foyston Gordon & Payne Inc owned 0.07% of Allegion worth $9,423,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in ALLE. Renaissance Technologies LLC purchased a new stake in shares of Allegion during the 2nd quarter valued at approximately $27,056,000. Raymond James & Associates raised its position in Allegion by 1.8% in the second quarter. Raymond James & Associates now owns 447,195 shares of the scientific and technical instruments company's stock valued at $52,836,000 after purchasing an additional 7,780 shares during the period. Andra AP fonden acquired a new position in shares of Allegion in the 2nd quarter valued at $10,704,000. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Allegion by 17.8% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 280,387 shares of the scientific and technical instruments company's stock worth $33,127,000 after purchasing an additional 42,307 shares during the period. Finally, Great Lakes Advisors LLC increased its position in shares of Allegion by 183.0% during the 2nd quarter. Great Lakes Advisors LLC now owns 115,294 shares of the scientific and technical instruments company's stock worth $13,622,000 after purchasing an additional 74,559 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Robert W. Baird upped their target price on shares of Allegion from $145.00 to $152.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Wells Fargo & Company increased their price objective on shares of Allegion from $137.00 to $152.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Mizuho lifted their target price on shares of Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Finally, Barclays upped their price target on Allegion from $135.00 to $137.00 and gave the stock an "underweight" rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Allegion has a consensus rating of "Hold" and an average price target of $144.60.

Insider Activity at Allegion

In other news, SVP Robert C. Martens sold 8,035 shares of the company's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the transaction, the senior vice president now owns 7,104 shares in the company, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John H. Stone acquired 7,500 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the purchase, the chief executive officer now directly owns 120,481 shares of the company's stock, valued at $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate insiders.

Allegion Stock Down 0.6 %

ALLE traded down $0.85 during trading hours on Tuesday, hitting $140.58. 684,772 shares of the company's stock were exchanged, compared to its average volume of 728,894. The firm has a market cap of $12.22 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 3.35 and a beta of 1.10. Allegion plc has a 12-month low of $107.92 and a 12-month high of $156.10. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average of $143.50 and a 200 day moving average of $133.62.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business had revenue of $967.10 million for the quarter, compared to analysts' expectations of $970.70 million. During the same period last year, the firm earned $1.94 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts predict that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.37%. Allegion's payout ratio is 29.49%.

Allegion Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.