Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,589 Shares of Allegion plc (NYSE:ALLE)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Allegion plc (NYSE:ALLE - Free Report) by 13.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,343 shares of the scientific and technical instruments company's stock after acquiring an additional 3,589 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Allegion were worth $4,422,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. McClarren Financial Advisors Inc. grew its stake 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 buying an additional 72 shares in the last quarter. Greenwich Wealth Management LLC boosted its position in shares of Allegion by 0.5% during the 2nd quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company's stock worth $1,761,000 after acquiring an additional 79 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in Allegion by 2.9% in the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company's stock valued at $425,000 after acquiring an additional 82 shares during the last quarter. Thrive Wealth Management LLC raised its position in Allegion by 5.0% during the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company's stock valued at $269,000 after purchasing an additional 88 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Allegion by 3.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company's stock worth $310,000 after buying an additional 92 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their target price on Allegion from $137.00 to $152.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Mizuho increased their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Barclays boosted their target price on shares of Allegion from $135.00 to $137.00 and gave the stock an "underweight" rating in a research note on Monday, October 28th. Finally, Robert W. Baird increased 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. One investment analyst has rated the stock with a sell rating, four have issued 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 a consensus target price of $144.60.

Allegion Stock Performance

Shares of Allegion stock traded up $0.09 during mid-day trading on Tuesday, hitting $140.49. 730,607 shares of the stock were exchanged, compared to its average volume of 726,971. Allegion plc has a 12 month low of $104.25 and a 12 month high of $156.10. The company has a 50-day simple moving average of $143.83 and a 200 day simple moving average of $133.00. The company has a market capitalization of $12.21 billion, a P/E ratio of 21.56, a P/E/G ratio of 3.36 and a beta of 1.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71.

Allegion (NYSE:ALLE - Get Free Report) last issued 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. The company had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. Allegion's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 EPS. Sell-side analysts anticipate that Allegion plc will post 7.41 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, September 20th. Allegion's payout ratio is 29.49%.

Insiders Place Their Bets

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of Allegion 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 $1,029,511.68. The trade was a 53.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company's stock.

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.