Allegion plc (NYSE:ALLE) Stock Position Lifted by State Street Corp

State Street Corp raised its position in Allegion plc (NYSE:ALLE - Free Report) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,045,966 shares of the scientific and technical instruments company's stock after acquiring an additional 49,929 shares during the quarter. State Street Corp owned approximately 4.65% of Allegion worth $589,659,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ALLE. QRG Capital Management Inc. boosted its holdings in Allegion by 118.4% in the 2nd 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 purchasing an additional 8,824 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Allegion in the second quarter worth $27,056,000. Raymond James & Associates lifted its holdings in Allegion by 1.8% in the second quarter. Raymond James & Associates now owns 447,195 shares of the scientific and technical instruments company's stock valued at $52,836,000 after acquiring an additional 7,780 shares during the period. Andra AP fonden acquired a new position in shares of Allegion during the 2nd quarter worth $10,704,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Allegion by 17.8% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 280,387 shares of the scientific and technical instruments company's stock valued at $33,127,000 after purchasing an additional 42,307 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Robert C. Martens sold 8,035 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction 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. The trade was a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John H. Stone purchased 7,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

ALLE has been the topic of a number of research analyst reports. Barclays boosted their target price on Allegion from $135.00 to $137.00 and gave the stock an "underweight" rating in a research report on Monday, October 28th. Wells Fargo & Company upped their price target on shares of Allegion from $137.00 to $152.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Robert W. Baird lifted their price objective on Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Finally, Mizuho increased their target price on Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Allegion currently has an average rating of "Hold" and an average target price of $144.60.

Allegion Trading Up 0.7 %

NYSE:ALLE traded up $0.94 during mid-day trading on Monday, reaching $141.43. The company's stock had a trading volume of 809,085 shares, compared to its average volume of 729,328. Allegion plc has a twelve month low of $107.92 and a twelve month high of $156.10. The company's fifty day simple moving average is $143.59 and its two-hundred day simple moving average is $133.48. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The stock has a market cap of $12.29 billion, a P/E ratio of 21.58, a P/E/G ratio of 3.35 and a beta of 1.10.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.18. The company had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. Allegion's revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 earnings per share. On average, equities analysts predict that Allegion plc will post 7.41 EPS for the current year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Tuesday, December 17th. Allegion's payout ratio is currently 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.