Van ECK Associates Corp Grows Stock Position in Allegion plc (NYSE:ALLE)

Van ECK Associates Corp grew its stake in Allegion plc (NYSE:ALLE - Free Report) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,178,952 shares of the scientific and technical instruments company's stock after buying an additional 39,905 shares during the period. Van ECK Associates Corp owned 3.64% of Allegion worth $479,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of Allegion by 90.7% in the first quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company's stock valued at $16,380,000 after buying an additional 57,832 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Allegion by 5.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company's stock valued at $29,074,000 after buying an additional 10,896 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Allegion by 22.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 105,089 shares of the scientific and technical instruments company's stock worth $14,157,000 after purchasing an additional 19,570 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Allegion during the second quarter worth approximately $3,762,000. Finally, QRG Capital Management Inc. grew its stake in 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 purchasing an additional 8,824 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ALLE shares. Wells Fargo & Company raised their target price on Allegion from $137.00 to $152.00 and gave the stock an "equal weight" rating in a research note 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 research note on Monday, October 28th. Robert W. Baird raised their target price on Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. StockNews.com raised Allegion from a "hold" rating to a "buy" rating in a research note on Saturday, July 27th. Finally, Mizuho increased their price target on Allegion from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $144.60.

Insider Activity

In other 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 owns 7,104 shares in the company, valued at $1,029,511.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Allegion Stock Up 0.1 %

NYSE:ALLE traded up $0.20 on Friday, hitting $139.83. The stock had a trading volume of 646,948 shares, compared to its average volume of 971,324. The business's fifty day moving average is $142.92 and its 200 day moving average is $130.61. The company has a market cap of $12.16 billion, a PE ratio of 21.48, a P/E/G ratio of 3.31 and a beta of 1.11. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. Allegion plc has a 52 week low of $98.21 and a 52 week high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) 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 business had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same quarter in the prior year, the company earned $1.94 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts expect that Allegion plc will post 7.45 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.37%. Allegion's dividend payout ratio is presently 29.49%.

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.