Allegion PLC $ALLE Stock Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its position in shares of Allegion PLC (NYSE:ALLE) by 4,243.3% during the third quarter, Holdings Channel.com reports. The firm owned 105,282 shares of the scientific and technical instruments company’s stock after acquiring an additional 102,858 shares during the period. Kestra Advisory Services LLC’s holdings in Allegion were worth $16,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ALLE. International Assets Investment Management LLC lifted its stake in shares of Allegion by 30,063.6% in the 3rd quarter. International Assets Investment Management LLC now owns 869,012 shares of the scientific and technical instruments company’s stock valued at $133,628,000 after purchasing an additional 866,131 shares during the period. Wellington Management Group LLP grew its position in Allegion by 964.6% during the second quarter. Wellington Management Group LLP now owns 356,725 shares of the scientific and technical instruments company’s stock valued at $50,116,000 after buying an additional 323,218 shares during the period. Commonwealth Equity Services LLC grew its position in Allegion by 2,372.3% during the third quarter. Commonwealth Equity Services LLC now owns 256,374 shares of the scientific and technical instruments company’s stock valued at $39,423,000 after buying an additional 246,004 shares during the period. Hawk Ridge Capital Management LP increased its holdings in Allegion by 32.9% in the first quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock valued at $116,640,000 after buying an additional 198,800 shares in the last quarter. Finally, Rit Capital Partners PLC purchased a new position in Allegion in the first quarter valued at $21,786,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Allegion

In related news, SVP Tracy Kemp sold 4,469 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $178.81, for a total value of $799,101.89. Following the completion of the sale, the senior vice president owned 11,358 shares of the company’s stock, valued at approximately $2,030,923.98. This trade represents a 28.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy P. Eckersley sold 6,364 shares of Allegion stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $178.62, for a total value of $1,136,737.68. Following the transaction, the senior vice president owned 22,028 shares in the company, valued at approximately $3,934,641.36. The trade was a 22.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.64% of the company’s stock.

Allegion Stock Up 0.0%

Shares of NYSE ALLE opened at $185.48 on Monday. Allegion PLC has a 12-month low of $125.00 and a 12-month high of $195.42. The stock has a market cap of $15.64 billion, a PE ratio of 23.10, a P/E/G ratio of 2.09 and a beta of 0.82. The company has a current ratio of 1.90, a quick ratio of 1.24 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average of $161.34 and a 200 day moving average of $151.48.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.10. Allegion had a net margin of 15.74% and a return on equity of 35.52%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $2.30 EPS. The business’s revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts predict that Allegion PLC will post 9.10 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Allegion’s dividend payout ratio (DPR) is currently 27.40%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ALLE shares. Mizuho set a $180.00 price objective on shares of Allegion in a research report on Friday, October 23rd. Bank of America upgraded Allegion from a “neutral” rating to a “buy” rating and raised their target price for the company from $164.00 to $200.00 in a research report on Friday, October 23rd. The Goldman Sachs Group lifted their price target on Allegion from $182.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, October 26th. Evercore reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Allegion in a report on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. increased their price target on Allegion from $170.00 to $183.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Allegion currently has an average rating of “Moderate Buy” and a consensus target price of $180.70.

Allegion Profile

Allegion plc is a global provider of security products and solutions for homes, businesses, schools, hospitals and other institutions. Its offerings include mechanical and electronic locks, access-control systems, door closers, exit devices and related door hardware.

The company sells products under brands including Schlage, Von Duprin, LCN and CISA. Its solutions are used in both commercial and residential settings, with operations serving customers in North America and other markets around the world.

Allegion was formed in 2013 when it separated from Ingersoll Rand.