Brighton Jones LLC Makes New $2.47 Million Investment in Allegion PLC $ALLE

Brighton Jones LLC acquired a new stake in shares of Allegion PLC (NYSE:ALLE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 16,074 shares of the scientific and technical instruments company’s stock, valued at approximately $2,472,000.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings 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 in the last quarter. Wellington Management Group LLP boosted its stake in shares of Allegion by 964.6% during the second quarter. Wellington Management Group LLP now owns 356,725 shares of the scientific and technical instruments company’s stock valued at $50,116,000 after purchasing an additional 323,218 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Allegion by 2,372.3% during the third quarter. Commonwealth Equity Services LLC now owns 256,374 shares of the scientific and technical instruments company’s stock valued at $39,423,000 after purchasing an additional 246,004 shares in the last quarter. Hawk Ridge Capital Management LP grew its holdings 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 worth $116,640,000 after purchasing an additional 198,800 shares during the last quarter. Finally, Rit Capital Partners PLC bought a new stake in shares of Allegion during the first quarter worth about $21,786,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Buying and Selling

In related news, Director Steven Mizell bought 170 shares of Allegion stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average cost of $158.28 per share, for a total transaction of $26,907.60. Following the completion of the acquisition, the director directly owned 5,899 shares of the company’s stock, valued at approximately $933,693.72. The trade was a 2.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Tracy Kemp sold 4,469 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were 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 represents a 28.24% decrease in their position. The SEC filing for this sale provides additional information. 0.64% of the stock is owned by insiders.

Analysts Set New Price Targets

ALLE has been the subject of several recent research reports. Morgan Stanley upped their price objective on Allegion from $170.00 to $181.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 3rd. Evercore reiterated an “outperform” rating and set a $180.00 target price on shares of Allegion in a research report on Tuesday, September 22nd. Robert W. Baird set a $196.00 target price on shares of Allegion in a research report on Friday, October 23rd. Weiss Ratings raised shares of Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Mizuho set a $180.00 price target on shares of Allegion in a research report on Friday, October 23rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Allegion presently has an average rating of “Moderate Buy” and an average price target of $180.70.

Allegion Stock Up 2.6%

Shares of ALLE opened at $190.24 on Tuesday. The company has a market capitalization of $16.04 billion, a PE ratio of 22.05, a PEG ratio of 2.17 and a beta of 0.82. Allegion PLC has a 12 month low of $125.00 and a 12 month high of $195.42. The stock’s 50-day moving average price is $162.00 and its two-hundred day moving average price is $151.60. The company has a current ratio of 1.90, a quick ratio of 1.24 and a debt-to-equity ratio of 0.94.

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

Allegion Dividend Announcement

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

About Allegion

Allegion plc is a global provider of security products and solutions for homes, businesses, schools, hospitals and other institutions. Its offerings include mechanical and electronic locks, access-control systems, door closers, exit devices and related door hardware.

The company sells products under brands including Schlage, Von Duprin, LCN and CISA. Its solutions are used in both commercial and residential settings, with operations serving customers in North America and other markets around the world.

Allegion was formed in 2013 when it separated from Ingersoll Rand.