National Bank of Canada FI Raises Stake in Allegion plc (NYSE:ALLE)

National Bank of Canada FI increased its holdings in shares of Allegion plc (NYSE:ALLE) by 15.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 68,311 shares of the scientific and technical instruments company’s stock after purchasing an additional 9,231 shares during the quarter. National Bank of Canada FI owned 0.08% of Allegion worth $9,956,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Cetera Investment Advisers boosted its position in shares of Allegion by 280.4% in the first quarter. Cetera Investment Advisers now owns 13,091 shares of the scientific and technical instruments company’s stock worth $1,763,000 after buying an additional 9,650 shares during the period. CWM LLC boosted its holdings in Allegion by 47.3% in the 2nd quarter. CWM LLC now owns 3,018 shares of the scientific and technical instruments company’s stock worth $357,000 after acquiring an additional 969 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Allegion by 13.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,635 shares of the scientific and technical instruments company’s stock valued at $1,375,000 after acquiring an additional 1,365 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Allegion by 5.8% during the second quarter. Assenagon Asset Management S.A. now owns 4,807 shares of the scientific and technical instruments company’s stock valued at $568,000 after purchasing an additional 265 shares during the period. Finally, Benson Investment Management Company Inc. acquired a new position in shares of Allegion during the second quarter worth $3,292,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the transaction, the senior vice president now owns 7,104 shares in the company, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John H. Stone purchased 7,500 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Allegion Stock Performance

Allegion stock opened at $140.43 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. Allegion plc has a 12 month low of $107.92 and a 12 month high of $156.10. The company has a fifty day moving average price of $143.30 and a two-hundred day moving average price of $133.79. The company has a market cap of $12.21 billion, a PE ratio of 21.57, a P/E/G ratio of 3.35 and a beta of 1.10.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.98 by $0.18. The business had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.94 EPS. Research analysts expect that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Tuesday, December 17th. Allegion’s payout ratio is 29.49%.

Analysts Set New Price Targets

Several research firms recently issued reports on ALLE. Mizuho lifted their price target on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Barclays raised their target price on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. Robert W. Baird increased their price target on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company raised their price objective on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $144.60.

Allegion Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.