Vaughan Nelson Investment Management L.P. Sells 176 Shares of Allegion plc (NYSE:ALLE)

Vaughan Nelson Investment Management L.P. reduced its stake in shares of Allegion plc (NYSE:ALLE) by 0.1% during the third quarter, Holdings Channel reports. The institutional investor owned 280,211 shares of the scientific and technical instruments company’s stock after selling 176 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Allegion were worth $40,838,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Boston Partners grew its position in Allegion by 1.5% during the 1st quarter. Boston Partners now owns 5,006,225 shares of the scientific and technical instruments company’s stock worth $673,441,000 after acquiring an additional 72,773 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Allegion by 2.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock valued at $442,019,000 after purchasing an additional 91,011 shares during the period. Van ECK Associates Corp grew its holdings in shares of Allegion by 1.3% in the third quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock worth $479,577,000 after purchasing an additional 39,905 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Allegion by 7.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock worth $197,575,000 after buying an additional 120,870 shares during the period. Finally, Millennium Management LLC raised its holdings in Allegion by 483.1% during the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock valued at $60,914,000 after buying an additional 427,146 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

Allegion stock opened at $139.76 on Friday. Allegion plc has a fifty-two week low of $103.19 and a fifty-two week high of $156.10. The stock’s 50 day simple moving average is $143.80 and its two-hundred day simple moving average is $131.66. 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 market cap of $12.15 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 3.34 and a beta of 1.11.

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 the consensus estimate of $1.98 by $0.18. The company had revenue of $967.10 million for 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%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 earnings per share. As a group, analysts expect that Allegion plc will post 7.45 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were paid 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 currently 29.49%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.