Allegion PLC $ALLE Stock Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its stake in Allegion PLC (NYSE:ALLE) by 777.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 39,250 shares of the scientific and technical instruments company’s stock after buying an additional 34,775 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Allegion were worth $6,035,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALLE. Continuum Advisory LLC purchased a new position in Allegion during the second quarter valued at $25,000. Elevation Wealth Partners LLC boosted its holdings in Allegion by 1,666.7% in the second quarter. Elevation Wealth Partners LLC now owns 212 shares of the scientific and technical instruments company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Valued Wealth Advisors LLC grew its stake in shares of Allegion by 4,960.0% in the third quarter. Valued Wealth Advisors LLC now owns 253 shares of the scientific and technical instruments company’s stock worth $39,000 after acquiring an additional 248 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Allegion in the second quarter worth $42,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Allegion in the second quarter worth $44,000. Institutional investors own 92.21% of the company’s stock.

Insider Transactions at Allegion

In related news, Director Steven Mizell bought 170 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average cost of $158.28 per share, with a total value of $26,907.60. Following the completion of the purchase, the director 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Tracy L. Kemp sold 4,469 shares of the firm’s stock in a transaction 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 transaction, the senior vice president directly owned 11,358 shares of the company’s stock, valued at $2,030,923.98. The trade was a 28.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ALLE shares. The Goldman Sachs Group raised their price target on Allegion from $182.00 to $206.00 and gave the company a “buy” rating in a report on Monday, October 26th. Morgan Stanley upped their price target on shares of Allegion from $170.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 3rd. Mizuho set a $180.00 price objective on shares of Allegion in a research report on Friday, October 23rd. Robert W. Baird set a $196.00 price objective on shares of Allegion in a research note on Friday, October 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Allegion from $170.00 to $183.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.70.

Allegion Stock Down 0.5%

ALLE opened at $190.16 on Friday. 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 PLC has a 1-year low of $125.00 and a 1-year high of $195.42. The company has a market capitalization of $16.03 billion, a PE ratio of 21.86, a PEG ratio of 2.15 and a beta of 0.82. The firm’s 50 day simple moving average is $164.15 and its two-hundred day simple moving average is $151.95.

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

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued 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 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.