Patriot Financial Group Insurance Agency LLC Sells 99 Shares of Allegion plc (NYSE:ALLE)

Patriot Financial Group Insurance Agency LLC lessened its position in shares of Allegion plc (NYSE:ALLE) by 2.8% during the third quarter, HoldingsChannel.com reports. The fund owned 3,497 shares of the scientific and technical instruments company’s stock after selling 99 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Allegion were worth $510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Allegion in the 3rd quarter valued at $666,840,000. Millennium Management LLC boosted its holdings in Allegion by 483.1% in the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock valued at $60,914,000 after purchasing an additional 427,146 shares during the period. Renaissance Technologies LLC bought a new position in Allegion in the 2nd quarter valued at $27,056,000. AXA S.A. boosted its holdings in Allegion by 83.6% in the 2nd quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company’s stock valued at $39,179,000 after purchasing an additional 151,013 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Allegion by 7.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock valued at $197,575,000 after purchasing an additional 120,870 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALLE shares. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Robert W. Baird raised their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company raised their price objective 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 raised their price objective 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. Finally, Barclays raised their price objective on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $144.60.

Allegion Stock Performance

Allegion stock opened at $139.78 on Wednesday. The stock has a market cap of $12.22 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12. The firm’s fifty day moving average price is $142.53 and its 200-day moving average price is $130.25. Allegion plc has a fifty-two week low of $95.97 and a fifty-two week high of $156.10. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. The company had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 EPS. On average, equities research analysts expect that Allegion plc will post 7.26 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s payout ratio is presently 31.32%.

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.