Allegion PLC $ALLE Stock: ProShare Advisors LLC Lowers Holdings

ProShare Advisors LLC reduced its position in shares of Allegion PLC (NYSE:ALLE) by 27.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,161 shares of the scientific and technical instruments company’s stock after selling 6,251 shares during the quarter. ProShare Advisors LLC’s holdings in Allegion were worth $2,485,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vise Technologies Inc. increased its position in Allegion by 64.7% during the third quarter. Vise Technologies Inc. now owns 7,449 shares of the scientific and technical instruments company’s stock worth $1,145,000 after buying an additional 2,925 shares during the last quarter. State of Wyoming increased its holdings in shares of Allegion by 15.8% during the 3rd quarter. State of Wyoming now owns 5,917 shares of the scientific and technical instruments company’s stock worth $910,000 after acquiring an additional 806 shares during the last quarter. International Assets Investment Management LLC increased its holdings 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 worth $133,628,000 after acquiring an additional 866,131 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Allegion in the 3rd quarter valued at $3,675,000. Finally, Parcion Private Wealth LLC bought a new stake in Allegion in the 3rd quarter valued at $328,000. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Down 0.9%

Shares of Allegion stock traded down $1.66 during trading on Friday, hitting $185.48. The company’s stock had a trading volume of 971,968 shares, compared to its average volume of 1,251,794. The stock has a market cap of $15.64 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 2.16 and a beta of 0.82. The stock has a 50-day moving average price of $161.34 and a two-hundred day moving average price of $151.48. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24. Allegion PLC has a 52 week low of $125.00 and a 52 week high of $195.42.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the firm earned $2.30 earnings per share. Allegion’s revenue was up 9.6% on a year-over-year basis. Equities research analysts anticipate that Allegion PLC will post 9.10 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Allegion’s dividend payout ratio is presently 27.40%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ALLE shares. Mizuho set a $180.00 price objective on shares of Allegion in a research report on Friday, October 23rd. Robert W. Baird set a $196.00 target price on shares of Allegion in a report on Friday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of Allegion from $170.00 to $183.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Weiss Ratings raised shares of Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Bank of America upgraded shares of Allegion from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $164.00 to $200.00 in a research report on Friday, October 23rd. Five equities 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.70.

Insiders Place Their Bets

In other news, SVP Timothy P. Eckersley sold 6,364 shares of the company’s 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 completion of the transaction, the senior vice president directly owned 22,028 shares of the company’s stock, valued at $3,934,641.36. This represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven Mizell purchased 170 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average cost of $158.28 per share, with a total value of $26,907.60. Following the completion of the transaction, the director directly owned 5,899 shares of the company’s stock, valued at $933,693.72. The trade was a 2.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.64% of the company’s stock.

Allegion Profile

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.