The Manufacturers Life Insurance Company Sells 199 Shares of Allegion plc (NYSE:ALLE)

The Manufacturers Life Insurance Company decreased its holdings in Allegion plc (NYSE:ALLE) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,979 shares of the scientific and technical instruments company’s stock after selling 199 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Allegion worth $9,324,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. McClarren Financial Advisors Inc. grew its position in shares of Allegion by 61.0% during the third 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 boosted its position in shares of Allegion by 160.2% during the 2nd 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 during the last quarter. Concord Wealth Partners purchased a new position in shares of Allegion in the third quarter valued at $29,000. Cromwell Holdings LLC increased its position in Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 92 shares during the last quarter. Finally, Gradient Investments LLC purchased a new stake in Allegion during the second quarter valued at $38,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Up 0.1 %

Shares of NYSE ALLE opened at $140.48 on Wednesday. Allegion plc has a 1 year low of $104.25 and a 1 year high of $156.10. The firm has a 50-day simple moving average of $143.77 and a two-hundred day simple moving average of $133.11. The company has a market cap of $12.21 billion, a P/E ratio of 21.58, a PEG ratio of 3.35 and a beta of 1.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share 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 return on equity of 45.64% and a net margin of 15.36%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 earnings per share. Research analysts anticipate that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Dividend Announcement

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

Wall Street Analysts Forecast Growth

ALLE has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their price objective on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note 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 note on Monday, October 28th. Finally, Mizuho lifted their target price on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Allegion presently has an average rating of “Hold” and a consensus price target of $144.60.

Insider Activity at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction on 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 sale, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. The trade was a 53.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

Allegion Profile

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.