Allegion PLC $ALLE Stock: Russell Investments Group Ltd. Boosts Holdings

Russell Investments Group Ltd. raised its holdings in Allegion PLC (NYSE:ALLE) by 898.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,300,982 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,170,619 shares during the period. Russell Investments Group Ltd.’s holdings in Allegion were worth $200,052,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Allegion by 30,063.6% during 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 buying an additional 866,131 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Allegion by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company’s stock worth $123,952,000 after buying an additional 13,186 shares during the last quarter. Hawk Ridge Capital Management LP grew its holdings in Allegion by 32.9% during the first quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock worth $116,640,000 after acquiring an additional 198,800 shares during the period. The Manufacturers Life Insurance Company raised its position in Allegion by 19.4% during the first quarter. The Manufacturers Life Insurance Company now owns 599,326 shares of the scientific and technical instruments company’s stock valued at $87,076,000 after acquiring an additional 97,304 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Allegion by 5.5% during the first quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company’s stock valued at $78,766,000 after acquiring an additional 28,449 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Tracy L. Kemp sold 4,469 shares of the company’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $178.81, for a total transaction of $799,101.89. Following the completion of the transaction, the senior vice president owned 11,358 shares in the company, valued at $2,030,923.98. This represents a 28.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Mizell purchased 170 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average cost of $158.28 per share, for a total transaction of $26,907.60. Following the completion of the purchase, the director directly owned 5,899 shares in the company, valued at $933,693.72. This represents a 2.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.64% of the company’s stock.

Allegion Trading Down 0.5%

Shares of ALLE stock opened at $190.16 on Friday. Allegion PLC has a 1-year low of $125.00 and a 1-year high of $195.42. The company has a market cap of $16.03 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 2.15 and a beta of 0.82. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24. The stock has a 50 day simple moving average of $164.15 and a 200-day simple moving average of $151.95.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.10. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Allegion had a net margin of 15.74% and a return on equity of 35.52%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.30 EPS. On average, equities research analysts expect that Allegion PLC will post 9.10 EPS for the current fiscal year.

Allegion Announces Dividend

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

Wall Street Analysts Forecast Growth

ALLE has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Allegion from $182.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. Morgan Stanley raised their price target on shares of Allegion from $170.00 to $181.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 3rd. Bank of America upgraded shares of Allegion from a “neutral” rating to a “buy” rating and raised their price target for the company from $164.00 to $200.00 in a research report on Friday, October 23rd. Evercore reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Allegion in a report on Tuesday, September 22nd. Finally, Robert W. Baird set a $196.00 price objective on shares of Allegion in a research report on Friday, October 23rd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Allegion currently has a consensus rating of “Moderate Buy” and an average target price of $180.70.

Allegion Company 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.