QRG Capital Management Inc. Acquires 3,609 Shares of Allegion plc (NYSE:ALLE)

QRG Capital Management Inc. lifted its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 22.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,886 shares of the scientific and technical instruments company's stock after buying an additional 3,609 shares during the period. QRG Capital Management Inc.'s holdings in Allegion were worth $2,898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. McClarren Financial Advisors Inc. boosted 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 valued at $27,000 after purchasing an additional 72 shares during the last quarter. Crewe Advisors LLC boosted its position in Allegion by 160.2% during the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company's stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Concord Wealth Partners acquired a new stake in shares of Allegion in the third quarter valued at approximately $29,000. Cromwell Holdings LLC lifted its position in shares of Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company's stock valued at $34,000 after buying an additional 92 shares during the last quarter. Finally, Gradient Investments LLC acquired a new stake in shares of Allegion in the second quarter valued at approximately $38,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALLE has been the topic of a number of recent research reports. Barclays increased 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. Mizuho lifted their price target on Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted 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. Robert W. Baird lifted their price target on Allegion from $145.00 to $152.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Finally, StockNews.com raised Allegion from a "hold" rating to a "buy" rating in a report on Saturday, July 27th. One equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $144.60.

Insider Activity at Allegion

In related news, SVP Robert C. Martens sold 8,035 shares of the company'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 sale, the senior vice president now directly owns 7,104 shares in the company, valued at $1,029,511.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

Allegion Trading Up 1.2 %

Shares of Allegion stock traded up $1.74 during trading on Thursday, hitting $142.67. The company's stock had a trading volume of 834,433 shares, compared to its average volume of 723,391. The stock has a 50-day moving average price of $143.22 and a two-hundred day moving average price of $130.98. Allegion plc has a 52 week low of $101.11 and a 52 week high of $156.10. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 3.32 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

Allegion (NYSE:ALLE - Get Free Report) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS 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 business had revenue of $967.10 million for the quarter, compared to analysts' expectations of $970.70 million. During the same period in the prior year, the business posted $1.94 earnings per share. The firm's revenue was up 5.4% on a year-over-year basis. Equities research analysts anticipate 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. Investors of record on Friday, September 20th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, September 20th. Allegion's payout ratio is presently 29.49%.

About Allegion

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.