Pitcairn Co. Sells 176 Shares of Allegion plc (NYSE:ALLE)

Pitcairn Co. decreased its holdings in Allegion plc (NYSE:ALLE) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,739 shares of the scientific and technical instruments company’s stock after selling 176 shares during the quarter. Pitcairn Co.’s holdings in Allegion were worth $399,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. McClarren Financial Advisors Inc. grew its position in shares of Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 72 shares during the last quarter. Crewe Advisors LLC boosted its holdings in Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 149 shares during the last quarter. Concord Wealth Partners acquired a new stake in Allegion during the 3rd quarter valued at approximately $29,000. Cromwell Holdings LLC raised its holdings in Allegion by 65.2% during the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 92 shares during the last quarter. Finally, Gradient Investments LLC acquired a new position in shares of Allegion in the 2nd quarter worth approximately $38,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALLE has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Mizuho lifted their price objective on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird upped their target price on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Barclays lifted their target price on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $144.60.

Insiders Place Their Bets

In other news, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the sale, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Allegion Price Performance

ALLE stock opened at $140.40 on Wednesday. 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 company’s 50-day moving average is $143.96 and its 200-day moving average is $132.59. The stock has a market capitalization of $12.20 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 3.37 and a beta of 1.11. Allegion plc has a 1 year low of $103.19 and a 1 year high of $156.10.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 45.64% and a net margin of 15.36%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 earnings per share. Equities research analysts expect that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a yield of 1.37%. Allegion’s dividend payout ratio (DPR) 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.