SRN Advisors LLC Sells 302 Shares of Allegion plc (NYSE:ALLE)

SRN Advisors LLC lessened its stake in Allegion plc (NYSE:ALLE) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,427 shares of the scientific and technical instruments company’s stock after selling 302 shares during the period. SRN Advisors LLC’s holdings in Allegion were worth $1,082,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oak Thistle LLC purchased a new position in Allegion in the first quarter worth $278,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Allegion by 5.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company’s stock worth $29,074,000 after purchasing an additional 10,896 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in shares of Allegion by 1.8% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 23,373 shares of the scientific and technical instruments company’s stock worth $3,149,000 after purchasing an additional 406 shares in the last quarter. Norden Group LLC bought a new position in shares of Allegion during the 1st quarter valued at about $2,271,000. Finally, Massachusetts Wealth Management purchased a new position in shares of Allegion during the 1st quarter valued at about $205,000. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

NYSE:ALLE opened at $142.60 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The firm’s fifty day simple moving average is $142.34 and its 200 day simple moving average is $130.15. The stock has a market cap of $12.47 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12. Allegion plc has a twelve month low of $95.97 and a twelve month high of $156.10.

Allegion (NYSE:ALLE) 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 analysts’ consensus estimates of $1.98 by $0.18. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same quarter in the previous year, the firm posted $1.94 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts predict that Allegion plc will post 7.26 EPS for the current year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were paid a $0.48 dividend. The ex-dividend date was Friday, September 20th. This represents a $1.92 annualized dividend and a yield of 1.35%. Allegion’s payout ratio is 31.32%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Robert W. Baird lifted their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday. Mizuho lifted their target price on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Wells Fargo & Company raised their price target on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Barclays raised their target price on shares of Allegion from $117.00 to $135.00 and gave the stock an “underweight” rating in a report on Wednesday, October 2nd. One investment 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $144.20.

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.