abrdn plc Grows Stock Position in Allegion plc (NYSE:ALLE)

abrdn plc lifted its stake in Allegion plc (NYSE:ALLE) by 2.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 197,817 shares of the scientific and technical instruments company’s stock after buying an additional 5,287 shares during the period. abrdn plc’s holdings in Allegion were worth $28,855,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Pallas Capital Advisors LLC bought a new stake in shares of Allegion in the third quarter worth about $620,000. Concord Wealth Partners bought a new stake in shares of Allegion in the third quarter worth about $29,000. State of Alaska Department of Revenue grew its stake in shares of Allegion by 6.4% in the third quarter. State of Alaska Department of Revenue now owns 10,128 shares of the scientific and technical instruments company’s stock worth $1,476,000 after purchasing an additional 605 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Allegion in the third quarter worth about $229,000. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of Allegion in the third quarter worth about $211,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Activity

In other news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction that occurred 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 directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ALLE shares. Wells Fargo & Company raised their target price on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Barclays raised their target price on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research note on Monday. Robert W. Baird lifted their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Mizuho lifted their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $144.60.

Allegion Stock Performance

Allegion stock opened at $139.05 on Thursday. The stock’s 50 day simple moving average is $142.68 and its two-hundred day simple moving average is $130.33. Allegion plc has a fifty-two week low of $95.97 and a fifty-two week high of $156.10. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 4.50 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66.

Allegion (NYSE:ALLE) last released its 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. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The firm 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 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that Allegion plc will post 7.26 earnings per share for the current fiscal year.

Allegion Announces Dividend

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

Allegion 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.