Panagora Asset Management Inc. Decreases Stake in Allegion plc (NYSE:ALLE)

Panagora Asset Management Inc. lowered its position in shares of Allegion plc (NYSE:ALLE) by 19.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,129 shares of the scientific and technical instruments company’s stock after selling 2,427 shares during the quarter. Panagora Asset Management Inc.’s holdings in Allegion were worth $1,081,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Compass Wealth Management LLC purchased a new position in Allegion in the 4th quarter worth approximately $25,000. Ameritas Advisory Services LLC purchased a new position in Allegion in the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. boosted its holdings in Allegion by 55.0% in the 4th quarter. First Horizon Advisors Inc. now owns 296 shares of the scientific and technical instruments company’s stock worth $31,000 after acquiring an additional 105 shares during the period. Signaturefd LLC boosted its holdings in Allegion by 134.1% in the 1st quarter. Signaturefd LLC now owns 309 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 177 shares during the period. Finally, CWM LLC boosted its holdings in Allegion by 44.9% in the 1st quarter. CWM LLC now owns 371 shares of the scientific and technical instruments company’s stock worth $40,000 after acquiring an additional 115 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Activity at Allegion

In other news, CEO John H. Stone purchased 17,500 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were acquired at an average cost of $116.62 per share, with a total value of $2,040,850.00. Following the transaction, the chief executive officer now owns 94,248 shares in the company, valued at approximately $10,991,201.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Allegion news, SVP Jennifer L. Hawes sold 750 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $117.50, for a total value of $88,125.00. Following the sale, the senior vice president now directly owns 4,488 shares of the company’s stock, valued at $527,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John H. Stone bought 17,500 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was bought at an average cost of $116.62 per share, for a total transaction of $2,040,850.00. Following the completion of the transaction, the chief executive officer now directly owns 94,248 shares of the company’s stock, valued at $10,991,201.76. The disclosure for this purchase can be found here. Corporate insiders own 0.90% of the company’s stock.

Allegion Stock Performance

ALLE stock opened at $108.03 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.20 and a debt-to-equity ratio of 1.79. The firm has a market cap of $9.48 billion, a P/E ratio of 18.50, a P/E/G ratio of 3.03 and a beta of 1.11. Allegion plc has a 12-month low of $87.33 and a 12-month high of $128.36. The stock’s 50 day simple moving average is $115.30 and its 200 day simple moving average is $111.17.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.04. The business had revenue of $912.50 million for the quarter, compared to analyst estimates of $936.25 million. Allegion had a return on equity of 59.20% and a net margin of 14.27%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.37 EPS. As a group, equities research analysts predict that Allegion plc will post 6.77 EPS for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.67%. Allegion’s dividend payout ratio is currently 30.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ALLE shares. StockNews.com assumed coverage on Allegion in a report on Thursday, August 17th. They issued a “hold” rating for the company. Longbow Research lowered Allegion from a “buy” rating to a “neutral” rating in a research report on Wednesday. Barclays upped their target price on Allegion from $120.00 to $130.00 in a research report on Monday, July 10th. Finally, Robert W. Baird upped their target price on Allegion from $126.00 to $132.00 in a research report on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.50.

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.