Arkadios Wealth Advisors Purchases Shares of 2,119 Allegion plc (NYSE:ALLE)

Arkadios Wealth Advisors bought a new stake in Allegion plc (NYSE:ALLE) in the 4th quarter, HoldingsChannel.com reports. The firm bought 2,119 shares of the scientific and technical instruments company’s stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALLE. Merit Financial Group LLC bought a new position in Allegion in the fourth quarter worth approximately $282,000. Heritage Family Offices LLP lifted its holdings in shares of Allegion by 3.2% in the 4th quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock worth $346,000 after purchasing an additional 82 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in Allegion in the 4th quarter valued at $531,000. Park Avenue Securities LLC increased its stake in Allegion by 10.4% during the 4th quarter. Park Avenue Securities LLC now owns 3,847 shares of the scientific and technical instruments company’s stock valued at $503,000 after purchasing an additional 362 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in Allegion by 20.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 3,696 shares of the scientific and technical instruments company’s stock worth $483,000 after buying an additional 617 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALLE has been the subject of a number of analyst reports. Mizuho lifted their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley assumed coverage on Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective for the company. Wells Fargo & Company dropped their target price on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Barclays dropped their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, Allegion presently has an average rating of “Hold” and a consensus target price of $140.83.

Allegion Stock Performance

Shares of ALLE opened at $133.31 on Friday. The stock has a 50 day moving average of $135.39 and a 200 day moving average of $136.79. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 3.34 and a beta of 1.11. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.18. The firm had revenue of $967.10 million during 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 business’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.94 EPS. As a group, sell-side analysts forecast that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Tuesday, December 17th. Allegion’s dividend payout ratio is 29.49%.

Insider Buying and Selling at Allegion

In other news, CEO John H. Stone purchased 7,500 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

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.