Wealth Enhancement Advisory Services LLC Boosts Position in Allegion PLC $ALLE

Wealth Enhancement Advisory Services LLC grew its position in shares of Allegion PLC (NYSE:ALLE) by 90.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,067 shares of the scientific and technical instruments company’s stock after purchasing an additional 35,556 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Allegion were worth $13,289,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. First Horizon Corp bought a new position in shares of Allegion during the third quarter worth about $26,000. Sound Income Strategies LLC bought a new position in Allegion in the 2nd quarter worth about $32,000. CYBER HORNET ETFs LLC acquired a new position in Allegion during the 2nd quarter worth $33,000. Spire Wealth Management increased its stake in Allegion by 78.0% during the 2nd quarter. Spire Wealth Management now owns 235 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 103 shares during the period. Finally, MUFG Securities EMEA plc bought a new stake in Allegion during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Performance

ALLE stock opened at $166.92 on Friday. The firm has a 50 day simple moving average of $162.01 and a 200 day simple moving average of $165.94. Allegion PLC has a 52 week low of $116.57 and a 52 week high of $180.68. The stock has a market cap of $14.36 billion, a P/E ratio of 22.59, a P/E/G ratio of 3.03 and a beta of 1.04. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.77.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.21 by $0.09. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Allegion had a net margin of 16.09% and a return on equity of 40.83%. Allegion’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.16 EPS. Research analysts anticipate that Allegion PLC will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were issued a $0.51 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $2.04 dividend on an annualized basis and a yield of 1.2%. Allegion’s dividend payout ratio is currently 27.60%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 7th. Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a research report on Wednesday. Robert W. Baird upped their price target on Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Finally, Wells Fargo & Company reissued a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Allegion has a consensus rating of “Hold” and a consensus target price of $174.25.

Allegion Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.