Allegion plc (NYSE:ALLE) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 81.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,692 shares of the scientific and technical instruments company's stock after selling 55,760 shares during the period. Oppenheimer & Co. Inc.'s holdings in Allegion were worth $1,850,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new position in Allegion in the second quarter worth about $3,762,000. QRG Capital Management Inc. boosted its position in Allegion by 118.4% in the second quarter. QRG Capital Management Inc. now owns 16,277 shares of the scientific and technical instruments company's stock valued at $1,923,000 after buying an additional 8,824 shares during the last quarter. Bessemer Group Inc. boosted its position in Allegion by 1,386.0% in the first quarter. Bessemer Group Inc. now owns 16,985 shares of the scientific and technical instruments company's stock valued at $2,288,000 after buying an additional 15,842 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Allegion in the first quarter valued at approximately $662,000. Finally, Renaissance Technologies LLC purchased a new stake in Allegion in the second quarter valued at approximately $27,056,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Insiders Place Their Bets

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

Allegion Stock Performance

ALLE traded down $1.13 during trading on Monday, hitting $138.63. 252,886 shares of the stock were exchanged, compared to its average volume of 722,317. The firm has a market capitalization of $12.05 billion, a P/E ratio of 21.51, a PEG ratio of 3.31 and a beta of 1.11. Allegion plc has a 1-year low of $103.19 and a 1-year high of $156.10. The stock has a fifty day moving average price of $143.80 and a two-hundred day moving average price of $131.81. 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 (NYSE:ALLE - Get Free Report) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating 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 the consensus estimate of $970.70 million. During the same period last year, the business posted $1.94 EPS. The company's revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Allegion plc will post 7.41 earnings per share for the current 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 was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.38%. Allegion's payout ratio is 29.49%.

Wall Street Analysts Forecast Growth

ALLE has been the topic of several recent research reports. StockNews.com upgraded Allegion from a "hold" rating to a "buy" rating in a research report on Saturday, July 27th. Mizuho upped their price objective on Allegion from $135.00 to $150.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Robert W. Baird upped 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. Barclays increased their price objective on Allegion from $135.00 to $137.00 and gave the company an "underweight" rating in a research note on Monday, October 28th. Finally, 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. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.