Caprock Group LLC Makes New $1.18 Million Investment in Allegion PLC $ALLE

Caprock Group LLC acquired a new position in Allegion PLC (NYSE:ALLE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,957 shares of the scientific and technical instruments company’s stock, valued at approximately $1,181,000.

A number of other hedge funds also recently made changes to their positions in the stock. Westside Investment Management Inc. raised its stake in Allegion by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 70 shares during the period. First Horizon Corp purchased a new stake in shares of Allegion in the third quarter worth $26,000. Hantz Financial Services Inc. raised its position in shares of Allegion by 120.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Allegion during the 3rd quarter valued at $29,000. Finally, CYBER HORNET ETFs LLC bought a new position in Allegion in the 2nd quarter worth $33,000. 92.21% of the stock is currently owned by institutional investors.

Allegion Price Performance

Shares of NYSE ALLE opened at $179.34 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. The firm’s 50-day simple moving average is $164.93 and its 200 day simple moving average is $168.10. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 3.28 and a beta of 1.03. Allegion PLC has a fifty-two week low of $116.57 and a fifty-two week high of $183.11.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.2%. This is an increase from Allegion’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, March 13th. Allegion’s dividend payout ratio is currently 29.77%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ALLE shares. Robert W. Baird upped their price objective on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Wells Fargo & Company restated a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Barclays cut their price objective on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Allegion in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $174.25.

About Allegion

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.