Massachusetts Financial Services Co. MA Acquires 232,395 Shares of Allegion plc (NYSE:ALLE)

Massachusetts Financial Services Co. MA lifted its stake in shares of Allegion plc (NYSE:ALLE - Free Report) by 13.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,904,632 shares of the scientific and technical instruments company's stock after acquiring an additional 232,395 shares during the period. Massachusetts Financial Services Co. MA owned 2.19% of Allegion worth $277,581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. increased its position in Allegion by 61.0% during the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company's stock worth $27,000 after purchasing an additional 72 shares during the last quarter. Crewe Advisors LLC raised its position in shares of Allegion by 160.2% in the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company's stock worth $29,000 after buying an additional 149 shares during the period. Concord Wealth Partners acquired a new position in Allegion in the third quarter valued at $29,000. Cromwell Holdings LLC increased its stake in Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company's stock worth $34,000 after acquiring an additional 92 shares during the last quarter. Finally, Gradient Investments LLC purchased a new position in shares of Allegion in the 2nd quarter worth about $38,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Stock Down 0.0 %

NYSE:ALLE traded down $0.03 on Friday, hitting $141.38. 639,113 shares of the company's stock traded hands, compared to its average volume of 877,676. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The company has a market cap of $12.29 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 3.37 and a beta of 1.11. The firm has a 50-day moving average price of $144.02 and a 200-day moving average price of $132.26. Allegion plc has a 1 year low of $103.19 and a 1 year high of $156.10.

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 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 analyst estimates of $970.70 million. During the same period in the prior year, the firm posted $1.94 EPS. The business's revenue was up 5.4% compared to the same quarter last year. Equities analysts anticipate that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Dividend Announcement

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

Insiders Place Their Bets

In related news, SVP Robert C. Martens sold 8,035 shares of the firm'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 value of $1,164,432.20. Following 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 trade represents a 53.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

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

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.