Allegion plc (NYSE:ALLE) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC grew its position in shares of Allegion plc (NYSE:ALLE) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 237,860 shares of the scientific and technical instruments company’s stock after acquiring an additional 596 shares during the quarter. HighTower Advisors LLC’s holdings in Allegion were worth $34,660,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Cetera Investment Advisers increased its stake in shares of Allegion by 280.4% in the first quarter. Cetera Investment Advisers now owns 13,091 shares of the scientific and technical instruments company’s stock valued at $1,763,000 after purchasing an additional 9,650 shares during the period. Cetera Advisors LLC boosted its position in Allegion by 90.5% during the 1st quarter. Cetera Advisors LLC now owns 4,891 shares of the scientific and technical instruments company’s stock worth $659,000 after acquiring an additional 2,324 shares during the period. CWM LLC raised its stake in shares of Allegion by 47.3% during the second quarter. CWM LLC now owns 3,018 shares of the scientific and technical instruments company’s stock valued at $357,000 after purchasing an additional 969 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Allegion during the second quarter valued at about $3,762,000. Finally, OLD National Bancorp IN bought a new position in Allegion in the 2nd quarter valued at about $440,000. Institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

Shares of NYSE:ALLE opened at $140.32 on Friday. The company has a market capitalization of $12.20 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 3.35 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. The stock has a fifty day moving average of $143.65 and a 200-day moving average of $133.22. Allegion plc has a one year low of $104.25 and a one year high of $156.10.

Allegion (NYSE:ALLE) last released its quarterly 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. The business had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. Allegion’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $1.94 EPS. As a group, equities analysts anticipate that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.37%. Allegion’s dividend payout ratio (DPR) is presently 29.49%.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John H. Stone bought 7,500 shares of the stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

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

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.