Oppenheimer & Co. Inc. Lowers Stock Position in Allegion plc (NYSE:ALLE)

Oppenheimer & Co. Inc. trimmed its holdings in shares of Allegion plc (NYSE:ALLE) by 81.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,692 shares of the scientific and technical instruments company’s stock after selling 55,760 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Allegion were worth $1,850,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sei Investments Co. lifted its position in shares of Allegion by 1.7% during the first quarter. Sei Investments Co. now owns 28,518 shares of the scientific and technical instruments company’s stock valued at $3,841,000 after buying an additional 463 shares during the last quarter. Covestor Ltd boosted its stake in Allegion by 255.7% in the first quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 225 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Allegion by 16.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,163 shares of the scientific and technical instruments company’s stock worth $830,000 after purchasing an additional 853 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Allegion by 1,386.0% during the first quarter. Bessemer Group Inc. now owns 16,985 shares of the scientific and technical instruments company’s stock worth $2,288,000 after purchasing an additional 15,842 shares in the last quarter. Finally, Pitcairn Co. lifted its holdings in shares of Allegion by 3.5% during the 1st quarter. Pitcairn Co. now owns 2,784 shares of the scientific and technical instruments company’s stock valued at $375,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at Allegion

In other Allegion 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 completion of the transaction, the senior vice president now owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALLE. Wells Fargo & Company boosted their target price on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Robert W. Baird upped 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. 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. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Finally, Mizuho lifted their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $144.60.

Allegion Stock Performance

ALLE opened at $139.76 on Monday. The firm has a 50 day moving average of $143.80 and a two-hundred day moving average of $131.73. The firm has a market capitalization of $12.15 billion, a PE ratio of 21.47, a P/E/G ratio of 3.31 and a beta of 1.11. 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 plc has a 12-month low of $103.19 and a 12-month high of $156.10.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. The company had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 earnings per share. On average, analysts anticipate that Allegion plc will post 7.41 EPS for the current year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s dividend payout ratio is currently 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.