PNC Financial Services Group Inc. Sells 701 Shares of Allegion plc (NYSE:ALLE)

PNC Financial Services Group Inc. lowered its holdings in shares of Allegion plc (NYSE:ALLE) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 21,704 shares of the scientific and technical instruments company’s stock after selling 701 shares during the period. PNC Financial Services Group Inc.’s holdings in Allegion were worth $3,163,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ALLE. McClarren Financial Advisors Inc. grew its holdings in 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 worth $27,000 after acquiring an additional 72 shares during the last quarter. Greenwich Wealth Management LLC boosted its stake in shares of Allegion by 0.5% during the 2nd quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock valued at $1,761,000 after purchasing an additional 79 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Allegion by 2.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock valued at $425,000 after purchasing an additional 82 shares in the last quarter. Thrive Wealth Management LLC boosted its stake in shares of Allegion by 5.0% during the 3rd quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock valued at $269,000 after purchasing an additional 88 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Allegion by 3.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company’s stock valued at $310,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Down 0.0 %

Shares of NYSE ALLE opened at $141.38 on Monday. Allegion plc has a 1 year low of $103.19 and a 1 year high of $156.10. The stock has a market cap of $12.29 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 3.37 and a beta of 1.11. The firm has a 50-day moving average of $144.02 and a 200 day moving average of $132.31. 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 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 during the quarter, compared to analysts’ expectations of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.94 earnings per share. As a group, sell-side analysts expect that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were issued a $0.48 dividend. The ex-dividend date was Friday, September 20th. This represents a $1.92 annualized dividend and a yield of 1.36%. Allegion’s dividend payout ratio (DPR) is presently 29.49%.

Insiders Place Their Bets

In other news, SVP Robert C. Martens sold 8,035 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Allegion

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.