Daiwa Securities Group Inc. Buys 1,303 Shares of Allegion plc (NYSE:ALLE)

Daiwa Securities Group Inc. increased its stake in Allegion plc (NYSE:ALLE) by 13.7% during the third quarter, Holdings Channel reports. The firm owned 10,811 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,303 shares during the period. Daiwa Securities Group Inc.’s holdings in Allegion were worth $1,576,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. McClarren Financial Advisors Inc. increased its position 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 period. Crewe Advisors LLC grew its position in Allegion by 160.2% in 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. Concord Wealth Partners bought a new position in Allegion in the third quarter valued at about $29,000. Cromwell Holdings LLC grew its position in 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 last quarter. Finally, Gradient Investments LLC bought a new position in Allegion in the second quarter valued at about $38,000. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the transaction, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by insiders.

Allegion Stock Performance

Shares of ALLE stock opened at $141.41 on Friday. The business’s 50-day moving average price is $143.87 and its 200-day moving average price is $132.72. Allegion plc has a 12 month low of $103.19 and a 12 month high of $156.10. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 3.40 and a beta of 1.11. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. The firm had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $1.94 earnings per share. Equities research analysts forecast that Allegion plc will post 7.41 EPS for the current year.

Allegion Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays lifted their target price on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Mizuho lifted their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird lifted their target price on 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 lifted their price target on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.