Charles Schwab Investment Management Inc. Decreases Stock Holdings in Allegion plc (NYSE:ALLE)

Charles Schwab Investment Management Inc. cut its holdings in Allegion plc (NYSE:ALLE) by 0.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 737,365 shares of the scientific and technical instruments company’s stock after selling 2,296 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Allegion were worth $107,464,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new stake in shares of Allegion in the 2nd quarter worth about $3,762,000. QRG Capital Management Inc. raised its position in Allegion by 118.4% during the second quarter. QRG Capital Management Inc. now owns 16,277 shares of the scientific and technical instruments company’s stock valued at $1,923,000 after purchasing an additional 8,824 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Allegion in the 1st quarter valued at approximately $662,000. Renaissance Technologies LLC purchased a new position in shares of Allegion in the 2nd quarter worth approximately $27,056,000. Finally, Raymond James & Associates increased its position in shares of Allegion by 1.8% during the 2nd quarter. Raymond James & Associates now owns 447,195 shares of the scientific and technical instruments company’s stock valued at $52,836,000 after purchasing an additional 7,780 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 0.9 %

ALLE stock opened at $142.67 on Tuesday. Allegion plc has a 12 month low of $103.19 and a 12 month high of $156.10. The firm’s 50-day moving average is $144.02 and its 200 day moving average is $132.37. The company has a market capitalization of $12.40 billion, a PE ratio of 21.92, a P/E/G ratio of 3.37 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS 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 net margin of 15.36% and a return on equity of 45.64%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $1.94 earnings per share. On average, research analysts anticipate that Allegion plc will post 7.41 EPS for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s payout ratio is 29.49%.

Analyst Ratings Changes

A number of analysts recently issued reports on ALLE shares. Barclays raised their price target on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. Robert W. Baird lifted their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Wells Fargo & Company increased their price objective on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Mizuho boosted their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. One equities research 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, Allegion currently has an average rating of “Hold” and an average target price of $144.60.

Insider Activity

In related news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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.