Meyer Handelman Co. Sells 1,733 Shares of Allegion plc (NYSE:ALLE)

Meyer Handelman Co. lessened its holdings in Allegion plc (NYSE:ALLE) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,185 shares of the scientific and technical instruments company’s stock after selling 1,733 shares during the period. Meyer Handelman Co. owned 0.08% of Allegion worth $9,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ALLE. McClarren Financial Advisors Inc. grew 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 valued at $27,000 after purchasing an additional 72 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Allegion during the 3rd quarter worth approximately $28,000. Concord Wealth Partners bought a new stake in shares of Allegion in the third quarter valued at about $29,000. Cromwell Holdings LLC increased its position in Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 92 shares during the period. Finally, Kimelman & Baird LLC bought a new position in Allegion during the second quarter worth about $39,000. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In other news, CEO John H. Stone acquired 7,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. This represents a 6.64 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now owns 7,104 shares in the company, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Allegion Stock Performance

Shares of ALLE stock opened at $129.78 on Wednesday. The business’s 50-day moving average price is $136.49 and its 200-day moving average price is $136.20. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 3.35 and a beta of 1.11. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.18. The firm had revenue of $967.10 million during the quarter, compared to analysts’ expectations of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.94 EPS. Equities research analysts forecast that Allegion plc will post 7.41 EPS for the current year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a dividend of $0.48 per share. The ex-dividend date was Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.48%. Allegion’s dividend payout ratio (DPR) is 29.49%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ALLE shares. Barclays decreased their target price on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird boosted their price target on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Morgan Stanley assumed coverage on shares of Allegion in a research note on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective on the stock. Mizuho raised their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company dropped their price objective on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $140.83.

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.