Millburn Ridgefield Corp Makes New $139,000 Investment in Allegion plc (NYSE:ALLE)

Millburn Ridgefield Corp bought a new stake in shares of Allegion plc (NYSE:ALLE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 956 shares of the scientific and technical instruments company’s stock, valued at approximately $139,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Investment Management Corp of Ontario lifted its holdings in Allegion by 15.0% in the 3rd quarter. Investment Management Corp of Ontario now owns 6,899 shares of the scientific and technical instruments company’s stock valued at $1,005,000 after purchasing an additional 900 shares in the last quarter. HighTower Advisors LLC grew its holdings in Allegion by 0.3% in the 3rd quarter. HighTower Advisors LLC now owns 237,860 shares of the scientific and technical instruments company’s stock valued at $34,660,000 after buying an additional 596 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of Allegion by 323.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,512 shares of the scientific and technical instruments company’s stock worth $220,000 after acquiring an additional 1,155 shares during the last quarter. Verition Fund Management LLC boosted its position in shares of Allegion by 100.7% during the 3rd quarter. Verition Fund Management LLC now owns 11,229 shares of the scientific and technical instruments company’s stock valued at $1,637,000 after acquiring an additional 5,634 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Allegion by 2.8% in the third quarter. Captrust Financial Advisors now owns 3,541 shares of the scientific and technical instruments company’s stock valued at $516,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Mizuho increased their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. 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 research report on Monday, October 7th. Barclays upped their price target on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. Finally, Robert W. Baird raised their price objective on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $144.60.

Insider Transactions at Allegion

In related 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 transaction of $1,164,432.20. Following the sale, the senior vice president now directly owns 7,104 shares in the company, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Allegion Stock Performance

Shares of Allegion stock opened at $140.48 on Wednesday. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of 21.58, 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 current ratio of 1.71 and a quick ratio of 1.29. The business has a 50-day moving average of $143.77 and a 200 day moving average of $133.11. Allegion plc has a 12 month low of $104.25 and a 12 month high of $156.10.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $970.70 million. During the same period in the prior year, the business earned $1.94 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Friday, September 20th. Allegion’s payout ratio is presently 29.49%.

Allegion Company 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.