Prelude Capital Management LLC Buys Shares of 2,415 Allegion plc (NYSE:ALLE)

Prelude Capital Management LLC purchased a new stake in Allegion plc (NYSE:ALLE) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,415 shares of the scientific and technical instruments company’s stock, valued at approximately $258,000.

Several other large investors have also recently made changes to their positions in ALLE. Compass Wealth Management LLC bought a new position in shares of Allegion during the 4th quarter worth approximately $25,000. Ameritas Advisory Services LLC bought a new position in shares of Allegion during the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. increased its position in Allegion by 55.0% during the 4th quarter. First Horizon Advisors Inc. now owns 296 shares of the scientific and technical instruments company’s stock valued at $31,000 after buying an additional 105 shares in the last quarter. Signaturefd LLC increased its position in Allegion by 134.1% during the 1st quarter. Signaturefd LLC now owns 309 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 177 shares in the last quarter. Finally, CWM LLC increased its position in Allegion by 44.9% during the 1st quarter. CWM LLC now owns 371 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 115 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Allegion Price Performance

Shares of NYSE ALLE opened at $105.23 on Tuesday. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 2.90 and a beta of 1.11. Allegion plc has a 12 month low of $87.33 and a 12 month high of $128.36. The firm’s 50 day simple moving average is $113.72 and its 200-day simple moving average is $110.77. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.93 and a quick ratio of 1.20.

Allegion (NYSE:ALLE) last posted its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.04. The firm had revenue of $912.50 million for the quarter, compared to analysts’ expectations of $936.25 million. Allegion had a return on equity of 59.20% and a net margin of 14.27%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period last year, the firm earned $1.37 EPS. Analysts expect that Allegion plc will post 6.76 EPS for the current year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 18th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, September 15th. This represents a $1.80 annualized dividend and a yield of 1.71%. Allegion’s dividend payout ratio (DPR) is currently 30.82%.

Insiders Place Their Bets

In other Allegion news, CEO John H. Stone bought 17,500 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was acquired at an average price of $116.62 per share, with a total value of $2,040,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 94,248 shares of the company’s stock, valued at $10,991,201.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Jennifer L. Hawes sold 750 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $117.50, for a total transaction of $88,125.00. Following the transaction, the senior vice president now directly owns 4,488 shares in the company, valued at approximately $527,340. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John H. Stone bought 17,500 shares of the stock in a transaction dated Thursday, July 27th. The shares were bought at an average price of $116.62 per share, for a total transaction of $2,040,850.00. Following the completion of the acquisition, the chief executive officer now owns 94,248 shares in the company, valued at $10,991,201.76. The disclosure for this purchase can be found here. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

ALLE has been the topic of several recent analyst reports. StockNews.com initiated coverage on Allegion in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays raised their target price on Allegion from $120.00 to $130.00 in a research note on Monday, July 10th. Robert W. Baird increased their price objective on Allegion from $126.00 to $132.00 in a report on Thursday, July 27th. Finally, Longbow Research lowered Allegion from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 6th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $123.50.

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.