Allegion PLC $ALLE Stock Holdings Lowered by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Allegion PLC (NYSE:ALLE) by 97.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,890 shares of the scientific and technical instruments company’s stock after selling 175,367 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Allegion were worth $752,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. DMC Group LLC raised its holdings in Allegion by 2.4% during the 3rd quarter. DMC Group LLC now owns 4,408 shares of the scientific and technical instruments company’s stock valued at $678,000 after buying an additional 102 shares during the period. Wealth Alliance LLC boosted its stake in Allegion by 4.5% during the first quarter. Wealth Alliance LLC now owns 2,644 shares of the scientific and technical instruments company’s stock worth $384,000 after buying an additional 114 shares during the period. Allworth Financial LP boosted its stake in Allegion by 9.5% during the second quarter. Allworth Financial LP now owns 1,368 shares of the scientific and technical instruments company’s stock worth $192,000 after buying an additional 119 shares during the period. NewEdge Advisors LLC boosted its stake in Allegion by 6.5% during the second quarter. NewEdge Advisors LLC now owns 2,274 shares of the scientific and technical instruments company’s stock worth $319,000 after buying an additional 138 shares during the period. Finally, Baird Financial Group Inc. increased its position in Allegion by 2.0% during the second quarter. Baird Financial Group Inc. now owns 7,470 shares of the scientific and technical instruments company’s stock valued at $1,049,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the topic of a number of analyst reports. Robert W. Baird set a $196.00 price objective on shares of Allegion in a research report on Friday, October 23rd. The Goldman Sachs Group raised their target price on shares of Allegion from $182.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Evercore reaffirmed an “outperform” rating and set a $180.00 price target on shares of Allegion in a research note on Tuesday, September 22nd. 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, Mizuho set a $180.00 price target on shares of Allegion in a report on Friday, October 23rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Allegion currently has an average rating of “Moderate Buy” and a consensus price target of $180.70.

Insiders Place Their Bets

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

Allegion Trading Up 0.0%

ALLE 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 stock’s 50 day moving average price is $161.34 and its 200-day moving average price is $151.48. Allegion PLC has a one year low of $125.00 and a one year high of $195.42. The stock has a market cap of $15.64 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 2.09 and a beta of 0.82.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.10. Allegion had a return on equity of 35.52% and a net margin of 15.74%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company earned $2.30 EPS. Allegion’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that Allegion PLC will post 9.10 EPS for the current year.

Allegion Announces Dividend

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

About Allegion

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.