Allegion plc (NYSE:ALLE) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its position in Allegion plc (NYSE:ALLE) by 1.2% in the third quarter, HoldingsChannel.com reports. The firm owned 195,694 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,329 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Allegion were worth $28,520,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Versor Investments LP bought a new position in Allegion during the third quarter valued at about $627,000. Venturi Wealth Management LLC raised its holdings in shares of Allegion by 60.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,166 shares of the scientific and technical instruments company’s stock worth $316,000 after purchasing an additional 818 shares in the last quarter. Catalytic Wealth RIA LLC lifted its stake in Allegion by 5.4% during the third quarter. Catalytic Wealth RIA LLC now owns 2,437 shares of the scientific and technical instruments company’s stock valued at $355,000 after purchasing an additional 125 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in Allegion during the third quarter worth approximately $243,000. Finally, Los Angeles Capital Management LLC grew its position in Allegion by 55.1% in the third quarter. Los Angeles Capital Management LLC now owns 209,917 shares of the scientific and technical instruments company’s stock worth $30,593,000 after buying an additional 74,577 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Stock Performance

Shares of ALLE opened at $139.76 on Friday. The company has a market capitalization of $12.15 billion, a PE ratio of 21.47, a PEG ratio of 3.34 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The company’s 50 day moving average price is $143.80 and its 200 day moving average price is $131.66. Allegion plc has a 52 week low of $103.19 and a 52 week high of $156.10.

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. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. During the same period in the previous year, the company posted $1.94 EPS. Allegion’s revenue was up 5.4% on a year-over-year basis. Research analysts expect that Allegion plc will post 7.45 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.37%. Allegion’s dividend payout ratio is 29.49%.

Insider Activity at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the firm’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 transaction, the senior vice president now directly owns 7,104 shares in the company, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on ALLE. Robert W. Baird upped their target price on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Wells Fargo & Company upped their price target on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Mizuho lifted their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays increased their target price on 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 assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Allegion presently has a consensus rating of “Hold” and a consensus price target of $144.60.

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.