Freedom Investment Management Inc. Makes New $676,000 Investment in Allegion plc (NYSE:ALLE)

Freedom Investment Management Inc. bought a new stake in shares of Allegion plc (NYSE:ALLE - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,636 shares of the scientific and technical instruments company's stock, valued at approximately $676,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Allegion by 2.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 229,901 shares of the scientific and technical instruments company's stock worth $30,971,000 after buying an additional 4,555 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Allegion in the first quarter valued at about $662,000. B. Riley Wealth Advisors Inc. boosted its position in Allegion by 44.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,157 shares of the scientific and technical instruments company's stock worth $425,000 after purchasing an additional 969 shares during the last quarter. Tidal Investments LLC increased its position in shares of Allegion by 11.1% during the 1st quarter. Tidal Investments LLC now owns 6,819 shares of the scientific and technical instruments company's stock valued at $919,000 after purchasing an additional 681 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Allegion during the 1st quarter valued at about $9,570,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALLE. Mizuho boosted their target price on shares of 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 boosted their price objective on shares of Allegion from $137.00 to $152.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Barclays raised their target price on 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 boosted their price target on Allegion from $145.00 to $152.00 and gave the company a "neutral" rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $144.60.

Insider Buying and Selling at Allegion

In related news, SVP Robert C. Martens sold 8,035 shares of the 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 transaction, the senior vice president now directly owns 7,104 shares of the company's stock, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by insiders.

Allegion Price Performance

ALLE stock traded down $0.53 during trading on Friday, reaching $140.88. The company's stock had a trading volume of 363,655 shares, compared to its average volume of 726,531. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The company's fifty day moving average is $143.87 and its 200-day moving average is $132.72. The company has a market capitalization of $12.25 billion, a P/E ratio of 21.72, a price-to-earnings-growth 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.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly 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. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company had revenue of $967.10 million for the quarter, compared to analysts' expectations of $970.70 million. During the same period in the previous year, the firm earned $1.94 EPS. The firm's revenue was up 5.4% compared to the same quarter last year. On average, research analysts expect that Allegion plc will post 7.41 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business 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 annualized dividend and a yield of 1.36%. Allegion's payout ratio 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.