Bank of Montreal Can Reduces Stock Position in Allegion plc (NYSE:ALLE)

Bank of Montreal Can reduced its position in Allegion plc (NYSE:ALLE - Free Report) by 40.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,938 shares of the scientific and technical instruments company's stock after selling 65,508 shares during the quarter. Bank of Montreal Can owned about 0.11% of Allegion worth $13,649,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Manning & Napier Advisors LLC purchased a new position in Allegion during the 2nd quarter worth $3,762,000. QRG Capital Management Inc. grew its holdings in shares of Allegion by 118.4% during the second quarter. QRG Capital Management Inc. now owns 16,277 shares of the scientific and technical instruments company's stock worth $1,923,000 after buying an additional 8,824 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Allegion in the 1st quarter valued at about $662,000. Renaissance Technologies LLC purchased a new stake in Allegion during the 2nd quarter valued at approximately $27,056,000. Finally, Raymond James & Associates lifted its position in Allegion by 1.8% during the 2nd quarter. Raymond James & Associates now owns 447,195 shares of the scientific and technical instruments company's stock worth $52,836,000 after acquiring an additional 7,780 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the company's stock in a transaction dated 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 sale, the senior vice president now owns 7,104 shares of the company's stock, valued at $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

Allegion Price Performance

Shares of NYSE ALLE traded down $0.57 during trading on Friday, hitting $140.84. 363,655 shares of the company were exchanged, compared to its average volume of 776,303. 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 plc has a 1 year low of $103.57 and a 1 year high of $156.10. The company has a market cap of $12.24 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 3.36 and a beta of 1.11. The firm's fifty day moving average price is $143.88 and its 200 day moving average price is $132.89.

Allegion (NYSE:ALLE - Get Free Report) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same period in the prior year, the business posted $1.94 earnings per share. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Allegion plc will post 7.41 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.36%. Allegion's payout ratio is 29.49%.

Analyst Upgrades and Downgrades

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

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.