Verition Fund Management LLC Increases Stock Position in Allegion plc (NYSE:ALLE)

Verition Fund Management LLC grew its stake in shares of Allegion plc (NYSE:ALLE - Free Report) by 100.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,229 shares of the scientific and technical instruments company's stock after acquiring an additional 5,634 shares during the period. Verition Fund Management LLC's holdings in Allegion were worth $1,637,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. McClarren Financial Advisors Inc. lifted its holdings in shares of Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company's stock worth $27,000 after buying an additional 72 shares during the period. Brooklyn Investment Group purchased a new position in Allegion during the 3rd quarter valued at about $28,000. Concord Wealth Partners bought a new stake in shares of Allegion in the 3rd quarter valued at about $29,000. Cromwell Holdings LLC lifted its position in shares of Allegion by 65.2% in the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company's stock worth $34,000 after purchasing an additional 92 shares during the period. Finally, Crewe Advisors LLC increased its holdings in Allegion by 160.2% during the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company's stock valued at $29,000 after buying an additional 149 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Insider Buying and Selling at Allegion

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

Analyst Upgrades and Downgrades

ALLE has been the topic of several recent research reports. Mizuho increased their target price on Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their price objective on Allegion from $137.00 to $152.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Barclays boosted their target price on shares of Allegion from $135.00 to $137.00 and gave the stock an "underweight" rating in a report on Monday, October 28th. Finally, Robert W. Baird raised their price target on shares of Allegion from $145.00 to $152.00 and gave the company a "neutral" rating in a report on Friday, October 25th. One equities 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 stock. According to MarketBeat.com, Allegion currently has an average rating of "Hold" and an average price target of $144.60.

Allegion Stock Up 0.1 %

NYSE ALLE traded up $0.17 during trading on Friday, hitting $140.49. The company's stock had a trading volume of 760,528 shares, compared to its average volume of 728,516. Allegion plc has a fifty-two week low of $104.25 and a fifty-two week high of $156.10. The company has a market cap of $12.21 billion, a PE ratio of 21.58, a P/E/G ratio of 3.37 and a beta of 1.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The business's 50 day simple moving average is $143.59 and its 200-day simple moving average is $133.41.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.18. The company 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%. Allegion's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business earned $1.94 EPS. On average, equities analysts anticipate 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 $0.48 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a yield of 1.37%. Allegion's dividend payout ratio (DPR) is 29.49%.

Allegion Company 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.