Allegion plc (NYSE:ALLE) Shares Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC boosted its holdings in Allegion plc (NYSE:ALLE) by 96.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,674,644 shares of the scientific and technical instruments company’s stock after purchasing an additional 823,874 shares during the period. Allegion comprises 0.8% of Lord Abbett & CO. LLC’s portfolio, making the stock its 22nd largest position. Lord Abbett & CO. LLC owned 1.93% of Allegion worth $244,063,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. McClarren Financial Advisors Inc. raised 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. TD Private Client Wealth LLC raised its position in shares of Allegion by 0.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock worth $2,871,000 after purchasing an additional 77 shares during the period. Greenwich Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 79 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in Allegion by 2.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock valued at $425,000 after purchasing an additional 82 shares during the period. Finally, Thrive Wealth Management LLC increased its position in Allegion by 5.0% in the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock worth $269,000 after buying an additional 88 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ALLE. Barclays lifted their target price on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research note 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 increased their price target on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Mizuho upped their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Allegion currently has an average rating of “Hold” and an average target price of $144.60.

Allegion Stock Performance

Shares of NYSE:ALLE opened at $138.82 on Friday. The business has a fifty day moving average of $143.17 and a 200-day moving average of $133.83. The firm has a market cap of $12.07 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 3.35 and a beta of 1.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion plc has a twelve month low of $112.26 and a twelve month high of $156.10.

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, topping 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 during the quarter, compared to analysts’ expectations of $970.70 million. During the same quarter in the previous year, the company earned $1.94 EPS. Allegion’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Dividend Announcement

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 given a $0.48 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.92 annualized dividend and a dividend yield of 1.38%. Allegion’s dividend payout ratio is presently 29.49%.

Insider Transactions at Allegion

In related news, CEO John H. Stone acquired 7,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,164,432.20. Following the transaction, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by 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.