AustralianSuper Pty Ltd Makes New $494,000 Investment in Allegion plc (NYSE:ALLE)

by · The Markets Daily

AustralianSuper Pty Ltd acquired a new position in Allegion plc (NYSE:ALLE – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,389 shares of the scientific and technical instruments company’s stock, valued at approximately $494,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALLE. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Allegion by 5.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 215,829 shares of the scientific and technical instruments company’s stock valued at $29,074,000 after buying an additional 10,896 shares in the last quarter. Norden Group LLC bought a new stake in shares of Allegion during the first quarter valued at approximately $2,271,000. Diversify Advisory Services LLC purchased a new position in shares of Allegion in the first quarter worth $839,000. Sequoia Financial Advisors LLC bought a new position in shares of Allegion during the first quarter worth $223,000. Finally, BNP Paribas Financial Markets grew its stake in Allegion by 90.7% during the first quarter. BNP Paribas Financial Markets now owns 121,597 shares of the scientific and technical instruments company’s stock valued at $16,380,000 after acquiring an additional 57,832 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 0.4 %

NYSE:ALLE opened at $139.63 on Friday. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 4.50 and a beta of 1.12. Allegion plc has a 52 week low of $95.97 and a 52 week high of $156.10. The company has a quick ratio of 1.23, a current ratio of 1.66 and a debt-to-equity ratio of 1.40. The firm has a 50 day moving average of $142.77 and a 200 day moving average of $130.39.

Allegion (NYSE:ALLE – Get Free Report) last posted its quarterly earnings data 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. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. During the same quarter in the prior year, the company posted $1.94 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Allegion plc will post 7.26 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.38%. Allegion’s payout ratio is 31.32%.

Insider Activity at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the transaction, the senior vice president now owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the topic of several research reports. Wells Fargo & Company lifted their target price on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Mizuho upped their price target 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. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Robert W. Baird upped their target price 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. Finally, Barclays upped their price objective on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Allegion currently has a consensus rating of “Hold” and an average target price of $144.60.

View Our Latest Research Report on Allegion

Allegion Profile

(Free Report)

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.

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