Mirae Asset Global Investments Co. Ltd. Acquires 21,656 Shares of Allegion PLC $ALLE

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Allegion PLC (NYSE:ALLE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 21,656 shares of the scientific and technical instruments company’s stock, valued at approximately $3,330,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ALLE. Vise Technologies Inc. grew its stake 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 purchasing an additional 2,925 shares during the period. State of Wyoming boosted its stake in Allegion by 15.8% during the third 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 in the last quarter. International Assets Investment Management LLC grew its holdings in Allegion by 30,063.6% in the third 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 purchasing an additional 866,131 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Allegion in the third quarter valued at $3,675,000. Finally, Parcion Private Wealth LLC bought a new stake in Allegion in the third quarter valued at $328,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Down 0.9%

ALLE stock traded down $1.66 during trading on Friday, reaching $185.48. The stock had a trading volume of 971,968 shares, compared to its average volume of 1,251,794. Allegion PLC has a one year low of $125.00 and a one year high of $195.42. The company has a quick ratio of 1.24, a current ratio of 1.90 and a debt-to-equity ratio of 0.94. The company’s 50 day moving average is $161.34 and its two-hundred day moving average is $151.48. The company has a market capitalization of $15.64 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 2.16 and a beta of 0.82.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.10. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. Allegion had a return on equity of 35.52% and a net margin of 15.74%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.30 EPS. Equities research 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. Stockholders of record on Tuesday, September 15th were given 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%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Allegion news, SVP Tracy L. Kemp sold 4,469 shares of Allegion stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $178.81, for a total value of $799,101.89. Following the sale, the senior vice president owned 11,358 shares of the company’s stock, valued at approximately $2,030,923.98. The trade was a 28.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven Mizell bought 170 shares of the company’s stock in a transaction on Friday, August 28th. The stock was bought at an average price of $158.28 per share, for a total transaction of $26,907.60. Following the completion of the purchase, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.64% of the stock is owned by insiders.

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.