Allegion plc (NYSE:ALLE) Position Cut by AMG National Trust Bank

AMG National Trust Bank lowered its holdings in shares of Allegion plc (NYSE:ALLE) by 2.2% during the 3rd quarter, Holdings Channel reports. The fund owned 3,255 shares of the scientific and technical instruments company’s stock after selling 74 shares during the period. AMG National Trust Bank’s holdings in Allegion were worth $474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in ALLE. McClarren Financial Advisors Inc. increased its holdings in shares of 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 period. Crewe Advisors LLC raised its position in shares of Allegion by 160.2% during the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Concord Wealth Partners acquired a new stake in shares of Allegion in the 3rd quarter worth approximately $29,000. Cromwell Holdings LLC boosted its holdings 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 acquiring an additional 92 shares in the last quarter. Finally, Gradient Investments LLC acquired a new position in shares of Allegion during the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ALLE shares. Wells Fargo & Company upped their target price on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Robert W. Baird boosted their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Mizuho raised their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays boosted their target price on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. One equities research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $144.60.

Insider Activity

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 in the company, valued at $1,029,511.68. The trade was a 53.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.33% of the stock is owned by corporate insiders.

Allegion Stock Down 0.4 %

ALLE stock opened at $138.13 on Wednesday. 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 firm has a market capitalization of $12.01 billion, a P/E ratio of 21.22, a P/E/G ratio of 3.33 and a beta of 1.11. Allegion plc has a 52-week low of $103.19 and a 52-week high of $156.10. The company’s 50 day simple moving average is $143.88 and its 200-day simple moving average is $131.92.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.94 EPS. As a group, equities research analysts anticipate that Allegion plc will post 7.41 EPS for the current year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 annualized dividend and a yield of 1.39%. Allegion’s dividend payout ratio (DPR) 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.