Principal Financial Group Inc. Acquires 2,878 Shares of Allegion plc (NYSE:ALLE)

Principal Financial Group Inc. grew its stake in shares of Allegion plc (NYSE:ALLE) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,481 shares of the scientific and technical instruments company’s stock after buying an additional 2,878 shares during the period. Principal Financial Group Inc. owned 0.14% of Allegion worth $17,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. McClarren Financial Advisors Inc. increased its holdings in Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 72 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Allegion in the third quarter worth about $28,000. Concord Wealth Partners purchased a new stake in shares of Allegion in the third quarter worth about $29,000. Cromwell Holdings LLC boosted its stake in Allegion by 65.2% during 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 during the last quarter. Finally, Crewe Advisors LLC grew its holdings in 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 buying an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALLE. Wells Fargo & Company upped their price objective on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Barclays increased 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, October 28th. Mizuho boosted their target price on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Robert W. Baird upped their target price on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Allegion currently has an average rating of “Hold” and an average target price of $144.60.

Allegion Trading Down 0.0 %

ALLE stock opened at $132.99 on Friday. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 3.35 and a beta of 1.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The firm’s fifty day simple moving average is $140.79 and its two-hundred day simple moving average is $134.84.

Allegion (NYSE:ALLE) last issued 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 company 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 posted $1.94 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, December 17th. Allegion’s payout ratio is currently 29.49%.

Insider Buying and Selling 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 shares were 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 owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John H. Stone purchased 7,500 shares of Allegion stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the transaction, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate 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.