Allegion plc (NYSE:ALLE) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 19.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,139 shares of the scientific and technical instruments company's stock after selling 22,439 shares during the period. Citigroup Inc. owned approximately 0.11% of Allegion worth $13,574,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Allegion by 2.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company's stock worth $442,019,000 after purchasing an additional 91,011 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Allegion by 1.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company's stock valued at $479,577,000 after buying an additional 39,905 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Allegion by 13.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company's stock valued at $277,581,000 after buying an additional 232,395 shares during the period. Millennium Management LLC grew its stake in Allegion by 483.1% in 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. Finally, Raymond James & Associates increased its position in shares of Allegion by 2.9% during the third quarter. Raymond James & Associates now owns 460,290 shares of the scientific and technical instruments company's stock worth $67,083,000 after acquiring an additional 13,095 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Stock Down 0.4 %

Shares of ALLE stock traded down $0.53 during trading hours on Friday, reaching $140.88. 363,655 shares of the company's stock were exchanged, compared to its average volume of 726,531. The stock's fifty day moving average price is $143.87 and its two-hundred day moving average price is $132.72. The stock has a market cap of $12.25 billion, a PE ratio of 21.72, a PEG ratio of 3.37 and a beta of 1.11. Allegion plc has a 1 year low of $103.57 and a 1 year 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.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly 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 the consensus estimate of $970.70 million. During the same quarter in the prior year, the company earned $1.94 EPS. Allegion's quarterly revenue was up 5.4% on a year-over-year basis. Research analysts predict that Allegion plc will post 7.41 EPS for the current year.

Allegion Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Activity

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the sale, the senior vice president now directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company's stock.

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.