Pitcairn Co. Cuts Holdings in Allegion plc (NYSE:ALLE)

Pitcairn Co. decreased its position in Allegion plc (NYSE:ALLE) by 6.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,739 shares of the scientific and technical instruments company’s stock after selling 176 shares during the period. Pitcairn Co.’s holdings in Allegion were worth $399,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Allegion during the second quarter valued at approximately $3,762,000. QRG Capital Management Inc. raised its stake in shares of Allegion by 118.4% during the 2nd quarter. QRG Capital Management Inc. now owns 16,277 shares of the scientific and technical instruments company’s stock worth $1,923,000 after purchasing an additional 8,824 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Allegion in the 1st quarter worth about $662,000. Renaissance Technologies LLC bought a new position in Allegion during the second quarter valued at about $27,056,000. Finally, Raymond James & Associates increased its holdings in Allegion by 1.8% during the second quarter. Raymond James & Associates now owns 447,195 shares of the scientific and technical instruments company’s stock worth $52,836,000 after buying an additional 7,780 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

ALLE has been the subject of a number of research reports. Robert W. Baird increased 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. Barclays increased their price objective on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Mizuho boosted their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company increased their price target on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One research 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’s stock. According to data from MarketBeat.com, Allegion currently has a consensus rating of “Hold” and a consensus target price of $144.60.

Allegion Trading Down 1.6 %

Shares of ALLE stock opened at $140.40 on Wednesday. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 3.37 and a beta of 1.11. The company’s fifty day simple moving average is $143.96 and its two-hundred day simple moving average is $132.59. Allegion plc has a 1 year low of $103.19 and a 1 year high of $156.10. 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 (NYSE:ALLE) last released its quarterly earnings data 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. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same period in the previous year, the company posted $1.94 EPS. The firm’s revenue for the quarter 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.37%. Allegion’s dividend payout ratio (DPR) is currently 29.49%.

Insider Activity at Allegion

In related news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction on Friday, October 25th. The stock was 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 approximately $1,029,511.68. This trade represents 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 the SEC website. 0.33% of the stock is 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.