StoneRidge PMG Advisors LLC Acquires 3,886 Shares of Allegion PLC $ALLE

StoneRidge PMG Advisors LLC acquired a new stake in Allegion PLC (NYSE:ALLE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,886 shares of the scientific and technical instruments company’s stock, valued at approximately $598,000.

Other large investors also recently modified their holdings of the company. Continuum Advisory LLC bought a new stake in shares of Allegion during the 2nd quarter worth about $25,000. Elevation Wealth Partners LLC grew its stake in Allegion by 1,666.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 212 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. J.Safra Asset Management Corp bought a new position in Allegion in the 2nd quarter valued at about $42,000. Ameritas Advisory Services LLC bought a new position in Allegion in the 2nd quarter valued at about $44,000. Finally, Brown Lisle Cummings Inc. raised its holdings in Allegion by 14,733.3% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 445 shares of the scientific and technical instruments company’s stock valued at $68,000 after acquiring an additional 442 shares during the period. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ALLE shares. JPMorgan Chase & Co. boosted their price objective on Allegion from $170.00 to $183.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Bank of America raised Allegion from a “neutral” rating to a “buy” rating and upped their target price for the company from $164.00 to $200.00 in a research report on Friday, October 23rd. Evercore reiterated an “outperform” rating and set a $180.00 target price on shares of Allegion in a research note on Tuesday, September 22nd. Robert W. Baird set a $196.00 price target on Allegion in a report on Friday, October 23rd. Finally, The Goldman Sachs Group lifted their price target on Allegion from $182.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $180.70.

Allegion Trading Up 0.0%

ALLE stock opened at $185.48 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.24 and a current ratio of 1.90. The company’s 50-day simple moving average is $161.34 and its 200 day simple moving average is $151.48. Allegion PLC has a 52 week low of $125.00 and a 52 week high of $195.42. The company has a market capitalization of $15.64 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.09 and a beta of 0.82.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.10. The business had revenue of $1.17 billion during 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 business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.30 EPS. As a group, sell-side analysts anticipate that Allegion PLC will post 9.10 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend 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 currently 27.40%.

Insider Transactions at Allegion

In other news, SVP Timothy P. Eckersley sold 6,364 shares of Allegion stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $178.62, for a total value of $1,136,737.68. Following the completion of the sale, the senior vice president directly owned 22,028 shares in the company, valued at approximately $3,934,641.36. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven Mizell purchased 170 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average price of $158.28 per share, with a total value of $26,907.60. Following the completion of the purchase, the director owned 5,899 shares of the company’s stock, valued at $933,693.72. This trade represents a 2.97% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.64% of the company’s stock.

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.