Allegion PLC $ALLE Stock Position Decreased by Cooke & Bieler LP

Cooke & Bieler LP cut its holdings in Allegion PLC (NYSE:ALLE) by 25.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 678,670 shares of the scientific and technical instruments company’s stock after selling 236,400 shares during the quarter. Allegion comprises 1.6% of Cooke & Bieler LP’s holdings, making the stock its 20th biggest position. Cooke & Bieler LP owned approximately 0.80% of Allegion worth $104,359,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ALLE. MassMutual Private Wealth & Trust FSB lifted its stake in Allegion by 5,141.6% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 11,846 shares of the scientific and technical instruments company’s stock valued at $1,822,000 after buying an additional 11,620 shares in the last quarter. Regents Gate Capital LLP boosted its holdings in shares of Allegion by 291.7% in the first quarter. Regents Gate Capital LLP now owns 165,622 shares of the scientific and technical instruments company’s stock valued at $24,063,000 after buying an additional 123,343 shares during the period. GAMMA Investing LLC increased its position in shares of Allegion by 1,653.5% during the third quarter. GAMMA Investing LLC now owns 33,018 shares of the scientific and technical instruments company’s stock worth $5,077,000 after acquiring an additional 31,135 shares in the last quarter. Andra AP fonden increased its position in shares of Allegion by 382.8% during the second quarter. Andra AP fonden now owns 69,945 shares of the scientific and technical instruments company’s stock worth $9,827,000 after acquiring an additional 55,459 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of 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 worth $87,076,000 after acquiring an additional 97,304 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALLE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Allegion from $150.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Robert W. Baird set a $170.00 target price on shares of Allegion in a research note on Friday, July 24th. Weiss Ratings raised shares of Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Evercore reiterated an “outperform” rating and set a $180.00 target price on shares of Allegion in a report on Tuesday, September 22nd. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $162.50.

Allegion Stock Performance

Shares of NYSE ALLE opened at $158.99 on Thursday. The stock has a 50 day moving average price of $155.84 and a 200 day moving average price of $145.88. Allegion PLC has a 52 week low of $125.00 and a 52 week high of $183.11. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.23 and a current ratio of 1.93. The stock has a market capitalization of $13.52 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 3.19 and a beta of 0.81.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, July 23rd. The scientific and technical instruments company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.18. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.12 billion. Allegion had a return on equity of 35.41% and a net margin of 15.36%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $2.04 earnings per share. Analysts predict that Allegion PLC will post 8.94 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.55 per share. The ex-dividend date was Tuesday, September 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.4%. Allegion’s dividend payout ratio is currently 28.87%.

Insider Activity

In other news, Director Steven Mizell bought 170 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average cost of $158.28 per share, for a total transaction of $26,907.60. Following the completion of the acquisition, the director owned 5,899 shares in the company, valued at approximately $933,693.72. This represents a 2.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Vincent Wenos sold 1,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $168.25, for a total transaction of $168,250.00. Following the sale, the senior vice president directly owned 12,096 shares in the company, valued at $2,035,152. This trade represents a 7.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.64% of the stock is currently owned by insiders.

About Allegion

Allegion plc (NYSE:ALLE) is a global security products and solutions company focused on protecting people and property. Its portfolio includes mechanical and electronic locks, access control systems, door closers, exit devices, door controls, and commercial doors and frames.

The company serves commercial, institutional, industrial, and residential customers through well-known brands including Schlage, Von Duprin, LCN, Steelcraft, Briton, and aptiQ. Its offerings range from traditional hardware to connected and electronic access solutions designed for offices, schools, healthcare facilities, multifamily properties, and homes.

Allegion was established as an independent public company in 2013 following its separation from Ingersoll Rand.