Amalgamated Bank Sells 4,972 Shares of Allegion plc (NYSE:ALLE)

Amalgamated Bank lessened its stake in shares of Allegion plc (NYSE:ALLE) by 22.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,136 shares of the scientific and technical instruments company’s stock after selling 4,972 shares during the period. Amalgamated Bank’s holdings in Allegion were worth $2,497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ALLE. McClarren Financial Advisors Inc. raised its position in Allegion by 61.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. Crewe Advisors LLC raised its holdings in shares of Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 149 shares in the last quarter. Concord Wealth Partners purchased a new stake in Allegion in the third quarter worth about $29,000. Cromwell Holdings LLC grew its holdings in Allegion by 65.2% during the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 92 shares in the last quarter. Finally, Gradient Investments LLC purchased a new position in Allegion during the 2nd quarter valued at about $38,000. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at Allegion

In related news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value 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 $1,029,511.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Allegion Stock Performance

Shares of ALLE opened at $143.43 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The firm has a market cap of $12.47 billion, a PE ratio of 22.03, a P/E/G ratio of 3.41 and a beta of 1.11. Allegion plc has a 12 month low of $102.14 and a 12 month high of $156.10. The stock has a fifty day moving average price of $143.32 and a 200-day moving average price of $131.16.

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

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s dividend payout ratio 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.