Janney Montgomery Scott LLC Buys 2,318 Shares of Allegion plc (NYSE:ALLE)

Janney Montgomery Scott LLC boosted its position in shares of Allegion plc (NYSE:ALLE) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 68,046 shares of the scientific and technical instruments company’s stock after buying an additional 2,318 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Allegion were worth $9,917,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its stake in shares of Allegion by 22.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 105,089 shares of the scientific and technical instruments company’s stock valued at $14,157,000 after acquiring an additional 19,570 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Allegion during the 2nd quarter worth approximately $3,762,000. QRG Capital Management Inc. raised its stake in shares of Allegion by 118.4% during the second quarter. QRG Capital Management Inc. now owns 16,277 shares of the scientific and technical instruments company’s stock worth $1,923,000 after buying an additional 8,824 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Allegion by 1,386.0% in the first quarter. Bessemer Group Inc. now owns 16,985 shares of the scientific and technical instruments company’s stock valued at $2,288,000 after buying an additional 15,842 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Allegion in the first quarter valued at approximately $662,000. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALLE has been the subject of several recent research reports. Mizuho upped their target price on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Wells Fargo & Company boosted their target price on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Robert W. Baird increased their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Barclays boosted their price objective on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $144.60.

Insiders Place Their Bets

In other news, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction dated 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 directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Allegion Trading Up 1.2 %

NYSE ALLE opened at $142.67 on Friday. Allegion plc has a one year low of $101.11 and a one year high of $156.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The firm has a market cap of $12.40 billion, a P/E ratio of 21.92, a P/E/G ratio of 3.31 and a beta of 1.11. The stock’s 50-day moving average is $143.22 and its 200-day moving average is $130.98.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.98 by $0.18. The firm had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $1.94 EPS. Sell-side analysts anticipate that Allegion plc will post 7.45 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s dividend payout ratio (DPR) is presently 29.49%.

About Allegion

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.