PNC Financial Services Group Inc. Sells 701 Shares of Allegion plc (NYSE:ALLE)

PNC Financial Services Group Inc. cut its holdings in shares of Allegion plc (NYSE:ALLE) by 3.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,704 shares of the scientific and technical instruments company’s stock after selling 701 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Allegion were worth $3,163,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. McClarren Financial Advisors Inc. increased its holdings 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 worth $27,000 after purchasing an additional 72 shares during the period. Concord Wealth Partners acquired a new stake in shares of Allegion during the 3rd quarter worth approximately $29,000. Cromwell Holdings LLC boosted 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 valued at $34,000 after buying an additional 92 shares in the last quarter. Crewe Advisors LLC boosted its position in 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 buying an additional 149 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Allegion by 66.2% in the third quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock valued at $47,000 after buying an additional 129 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ALLE shares. Robert W. Baird boosted 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. Mizuho upped their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays upped their price objective on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company upped their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One research 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. According to data from MarketBeat, Allegion presently has a consensus rating of “Hold” and a consensus price target of $144.60.

Insiders Place Their Bets

In other 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 transaction, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This represents a 53.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

Allegion Trading Down 0.0 %

ALLE opened at $141.38 on Monday. 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 plc has a fifty-two week low of $103.19 and a fifty-two week high of $156.10. The firm has a market capitalization of $12.29 billion, a PE ratio of 21.72, a P/E/G ratio of 3.37 and a beta of 1.11. The company’s 50-day moving average is $144.02 and its 200 day moving average is $132.31.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (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 during the quarter, compared to the consensus estimate of $970.70 million. During the same period in the prior year, the firm posted $1.94 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts predict that Allegion plc will post 7.41 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 1.36%. The ex-dividend date was Friday, September 20th. Allegion’s payout ratio is 29.49%.

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.