Allegion plc (NYSE:ALLE) Stock Holdings Lowered by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ lowered its position in shares of Allegion plc (NYSE:ALLE) by 32.6% in the 3rd quarter, Holdings Channel reports. The fund owned 2,529 shares of the scientific and technical instruments company’s stock after selling 1,225 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Allegion were worth $369,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Allegion by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,000 shares of the scientific and technical instruments company’s stock valued at $1,150,000 after acquiring an additional 2,065 shares during the last quarter. Cromwell Holdings LLC lifted its holdings in Allegion by 65.2% in the 3rd 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 during the last quarter. Massachusetts Wealth Management acquired a new stake in Allegion in the 3rd quarter valued at about $221,000. Assenagon Asset Management S.A. lifted its holdings in Allegion by 2.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,925 shares of the scientific and technical instruments company’s stock valued at $718,000 after acquiring an additional 118 shares during the last quarter. Finally, Grimes & Company Inc. acquired a new stake in Allegion in the 3rd quarter valued at about $210,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ALLE. Wells Fargo & Company upped their target price on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Barclays upped their target price on Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a report on Wednesday, October 2nd. Robert W. Baird upped their target price on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday. 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, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $144.20.

Allegion Stock Performance

Shares of Allegion stock traded down $2.67 during midday trading on Friday, hitting $142.60. The company had a trading volume of 1,155,969 shares, compared to its average volume of 710,108. The business’s 50 day simple moving average is $142.34 and its two-hundred day simple moving average is $130.18. The stock has a market cap of $12.47 billion, a PE ratio of 23.26, a P/E/G ratio of 4.50 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. Allegion plc has a 1-year low of $95.97 and a 1-year high of $156.10.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The company had revenue of $967.10 million during the quarter, compared to analysts’ expectations of $970.70 million. During the same period last year, the business earned $1.94 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. As a group, equities analysts predict that Allegion plc will post 7.26 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were issued 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 1.35%. Allegion’s dividend payout ratio is currently 31.32%.

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.