Allstate Corp Makes New $548,000 Investment in Allegion PLC $ALLE

Allstate Corp bought a new stake in shares of Allegion PLC (NYSE:ALLE) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,092 shares of the scientific and technical instruments company’s stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Allegion by 7.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,592 shares of the scientific and technical instruments company’s stock valued at $1,251,000 after purchasing an additional 626 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Allegion by 35.3% in the 1st quarter. NewEdge Advisors LLC now owns 3,272 shares of the scientific and technical instruments company’s stock valued at $427,000 after purchasing an additional 854 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Allegion by 44.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,629 shares of the scientific and technical instruments company’s stock valued at $213,000 after buying an additional 499 shares during the last quarter. Empowered Funds LLC grew its position in shares of Allegion by 13.0% during the first quarter. Empowered Funds LLC now owns 5,673 shares of the scientific and technical instruments company’s stock worth $740,000 after buying an additional 651 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in shares of Allegion by 204.5% in the first quarter. Focus Partners Wealth now owns 7,186 shares of the scientific and technical instruments company’s stock worth $937,000 after buying an additional 4,826 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Trading Up 0.6%

NYSE ALLE opened at $166.92 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.77. Allegion PLC has a one year low of $116.57 and a one year high of $180.68. The company has a 50-day simple moving average of $162.01 and a 200-day simple moving average of $165.94. The firm has a market capitalization of $14.36 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 3.03 and a beta of 1.04.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, October 23rd. The scientific and technical instruments company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.09. Allegion had a net margin of 16.09% and a return on equity of 40.83%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. Allegion’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Allegion PLC will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, December 16th. Allegion’s dividend payout ratio is presently 27.60%.

Analyst Upgrades and Downgrades

ALLE has been the topic of a number of research analyst reports. Robert W. Baird increased their price objective on shares of Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Allegion in a research report on Wednesday, October 8th. Barclays decreased their price target on Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company restated a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $174.25.

Allegion Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.