ING Groep NV Raises Stock Holdings in Allegion plc (NYSE:ALLE)

ING Groep NV grew its holdings in Allegion plc (NYSE:ALLE - Free Report) by 56.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 76,553 shares of the scientific and technical instruments company's stock after acquiring an additional 27,487 shares during the quarter. ING Groep NV owned 0.09% of Allegion worth $11,157,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Allegion during the third quarter valued at $666,840,000. Millennium Management LLC boosted its stake in shares of Allegion by 483.1% during the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company's stock worth $60,914,000 after acquiring an additional 427,146 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Allegion during the second quarter worth $27,056,000. AXA S.A. increased its stake in shares of Allegion by 83.6% during the second quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company's stock worth $39,179,000 after purchasing an additional 151,013 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Allegion by 7.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company's stock worth $197,575,000 after buying an additional 120,870 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALLE. Mizuho upped their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Wells Fargo & Company upped their price target on Allegion from $137.00 to $152.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Robert W. Baird lifted their price objective on Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Barclays upped their target price on Allegion from $135.00 to $137.00 and gave the company an "underweight" rating in a report on Monday, October 28th. Finally, StockNews.com raised shares of Allegion from a "hold" rating to a "buy" rating in a research report on Saturday, July 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $144.60.

Allegion Trading Down 1.1 %

Shares of ALLE stock traded down $1.56 during trading hours on Friday, hitting $139.76. The company had a trading volume of 901,581 shares, compared to its average volume of 724,432. Allegion plc has a fifty-two week low of $103.19 and a fifty-two week high of $156.10. The company's fifty day moving average is $143.69 and its 200 day moving average is $131.56. The stock has a market capitalization of $12.15 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 3.34 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

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 for the quarter, beating analysts' consensus estimates of $1.98 by $0.18. The firm had revenue of $967.10 million during the quarter, compared to analysts' expectations of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 earnings per share. Research analysts expect that Allegion plc will post 7.45 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.37%. Allegion's payout ratio is currently 29.49%.

Insider Activity

In related news, SVP Robert C. Martens sold 8,035 shares of the company's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the sale, the senior vice president now directly owns 7,104 shares of the company's stock, valued at $1,029,511.68. This represents a 53.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company's stock.

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.