Citigroup Inc. Cuts Stake in Allegion plc (NYSE:ALLE)

Citigroup Inc. lessened its holdings in Allegion plc (NYSE:ALLE) by 19.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,139 shares of the scientific and technical instruments company’s stock after selling 22,439 shares during the quarter. Citigroup Inc. owned 0.11% of Allegion worth $13,574,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. McClarren Financial Advisors Inc. grew its holdings in shares of Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 72 shares during the last quarter. Concord Wealth Partners bought a new stake in Allegion in the 3rd quarter worth $29,000. Cromwell Holdings LLC increased its position in shares of Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 92 shares during the period. Crewe Advisors LLC raised its stake in shares of Allegion by 160.2% during the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 149 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Allegion by 66.2% during the third quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock worth $47,000 after purchasing an additional 129 shares during the period. 92.21% of the stock is owned by institutional investors.

Insider Activity at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Allegion Price Performance

Shares of ALLE stock opened at $141.41 on Friday. The business’s fifty day moving average is $143.87 and its 200 day moving average is $132.72. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 3.40 and a beta of 1.11. Allegion plc has a twelve month low of $103.19 and a twelve month high of $156.10.

Allegion (NYSE:ALLE) last issued its quarterly 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. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. During the same period last year, the business earned $1.94 EPS. Allegion’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts expect that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were paid a $0.48 dividend. The ex-dividend date was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.36%. Allegion’s payout ratio is currently 29.49%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ALLE. Barclays upped their price target on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Mizuho raised their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their price objective 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, Wells Fargo & Company raised their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. One investment 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. According to MarketBeat.com, Allegion has an average rating of “Hold” and an average target price of $144.60.

Allegion Company Profile

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.