Intech Investment Management LLC Boosts Stock Position in Allegion plc (NYSE:ALLE)

Intech Investment Management LLC boosted its holdings in Allegion plc (NYSE:ALLE) by 104.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,855 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,042 shares during the period. Intech Investment Management LLC’s holdings in Allegion were worth $1,436,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ALLE. International Assets Investment Management LLC purchased a new position in shares of Allegion during the 3rd quarter valued at $666,840,000. Millennium Management LLC lifted its position in shares of Allegion by 483.1% during the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock valued at $60,914,000 after buying an additional 427,146 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Allegion during the 2nd quarter valued at $27,056,000. AXA S.A. lifted its position in shares of Allegion by 83.6% during the 2nd quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company’s stock valued at $39,179,000 after buying an additional 151,013 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Allegion by 7.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock valued at $197,575,000 after buying an additional 120,870 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

Shares of NYSE ALLE opened at $142.67 on Tuesday. The firm has a market capitalization of $12.40 billion, a P/E ratio of 21.92, a P/E/G ratio of 3.37 and a beta of 1.11. 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 stock’s 50-day simple moving average is $144.02 and its two-hundred day simple moving average is $132.37. Allegion plc has a twelve month low of $103.19 and a twelve month high of $156.10.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. The business had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.94 EPS. As a group, equities analysts anticipate that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a $0.48 dividend. The ex-dividend date was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.35%. Allegion’s dividend payout ratio is currently 29.49%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays upped their price target on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Robert W. Baird increased their price objective on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Mizuho increased their price objective on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company increased 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. One investment 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, the company presently has a consensus rating of “Hold” and a consensus target price of $144.60.

Insiders Place Their Bets

In other news, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

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.