21,656 Shares of Allegion PLC $ALLE Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Allegion PLC (NYSE:ALLE) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 21,656 shares of the scientific and technical instruments company’s stock, valued at approximately $3,330,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALLE. International Assets Investment Management LLC boosted its stake in Allegion by 30,063.6% in the 3rd quarter. International Assets Investment Management LLC now owns 869,012 shares of the scientific and technical instruments company’s stock worth $133,628,000 after purchasing an additional 866,131 shares during the period. Dimensional Fund Advisors LP increased its stake in Allegion by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 853,222 shares of the scientific and technical instruments company’s stock worth $123,952,000 after purchasing an additional 13,186 shares during the period. Hawk Ridge Capital Management LP raised its stake in shares of Allegion by 32.9% during the first quarter. Hawk Ridge Capital Management LP now owns 802,807 shares of the scientific and technical instruments company’s stock valued at $116,640,000 after acquiring an additional 198,800 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Allegion by 19.4% in the first quarter. The Manufacturers Life Insurance Company now owns 599,326 shares of the scientific and technical instruments company’s stock worth $87,076,000 after acquiring an additional 97,304 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Allegion by 5.5% in the first quarter. Bank of America Corp DE now owns 542,132 shares of the scientific and technical instruments company’s stock worth $78,766,000 after buying an additional 28,449 shares during the period. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Down 0.9%

Allegion stock traded down $1.66 during mid-day trading on Friday, reaching $185.48. The stock had a trading volume of 971,968 shares, compared to its average volume of 1,251,794. The company has a market capitalization of $15.64 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 2.16 and a beta of 0.82. The company has a 50-day moving average price of $161.34 and a two-hundred day moving average price of $151.48. Allegion PLC has a one year low of $125.00 and a one year high of $195.42. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.10. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.14 billion. Allegion had a net margin of 15.74% and a return on equity of 35.52%. Allegion’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $2.30 EPS. On average, analysts expect that Allegion PLC will post 9.10 EPS for the current fiscal year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $2.20 annualized dividend and a yield of 1.2%. Allegion’s dividend payout ratio is 27.40%.

Insider Activity

In related news, SVP Tracy Kemp sold 4,469 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $178.81, for a total transaction of $799,101.89. Following the sale, the senior vice president directly owned 11,358 shares of the company’s stock, valued at $2,030,923.98. This trade represents a 28.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Timothy P. Eckersley sold 6,364 shares of the business’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $178.62, for a total value of $1,136,737.68. Following the completion of the transaction, the senior vice president directly owned 22,028 shares of the company’s stock, valued at approximately $3,934,641.36. This trade represents a 22.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ALLE shares. Bank of America upgraded shares of Allegion from a “neutral” rating to a “buy” rating and boosted their target price for the company from $164.00 to $200.00 in a report on Friday, October 23rd. The Goldman Sachs Group upped their price objective on shares of Allegion from $182.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Mizuho set a $180.00 target price on shares of Allegion in a research note on Friday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of Allegion from $170.00 to $183.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Finally, Evercore restated an “outperform” rating and issued a $180.00 price target on shares of Allegion in a research note on Tuesday, September 22nd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $180.70.

About Allegion

Allegion plc (NYSE:ALLE) is a global security products and solutions company focused on protecting people and property. Its portfolio includes mechanical and electronic locks, access control systems, door closers, exit devices, door controls, and commercial doors and frames.

The company serves commercial, institutional, industrial, and residential customers through well-known brands including Schlage, Von Duprin, LCN, Steelcraft, Briton, and aptiQ. Its offerings range from traditional hardware to connected and electronic access solutions designed for offices, schools, healthcare facilities, multifamily properties, and homes.

Allegion was established as an independent public company in 2013 following its separation from Ingersoll Rand.