Principal Financial Group Inc. Boosts Stock Position in Allegion plc (NYSE:ALLE)

Principal Financial Group Inc. increased its position in Allegion plc (NYSE:ALLE) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,481 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,878 shares during the quarter. Principal Financial Group Inc.’s holdings in Allegion were worth $17,850,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its stake in shares of Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 72 shares in the last quarter. Greenwich Wealth Management LLC increased its stake in Allegion by 0.5% in the 2nd quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock worth $1,761,000 after buying an additional 79 shares in the last quarter. Thrive Wealth Management LLC raised its holdings in Allegion by 5.0% during the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock valued at $269,000 after acquiring an additional 88 shares during the period. Crossmark Global Holdings Inc. lifted its position in shares of Allegion by 3.6% in the second quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company’s stock valued at $310,000 after acquiring an additional 92 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its stake in shares of 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 acquiring an additional 92 shares during the period. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 0.3 %

NYSE ALLE opened at $141.28 on Friday. The stock has a market cap of $12.28 billion, a PE ratio of 21.70, a PEG ratio of 3.36 and a beta of 1.11. Allegion plc has a 12 month low of $103.19 and a 12 month high of $156.10. The company’s 50-day moving average price is $143.58 and its 200-day moving average price is $131.49. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

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. 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 the consensus estimate of $970.70 million. During the same period in the prior year, the firm earned $1.94 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Allegion plc will post 7.45 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.36%. The ex-dividend date was Friday, September 20th. Allegion’s payout ratio is 29.49%.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were 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 owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays boosted their price target on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Robert W. Baird increased their price objective 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 Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Mizuho increased their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $144.60.

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.