Thrive Wealth Management LLC Grows Stock Holdings in Allegion plc (NYSE:ALLE)

Thrive Wealth Management LLC raised its stake in Allegion plc (NYSE:ALLE) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,844 shares of the scientific and technical instruments company’s stock after buying an additional 88 shares during the period. Thrive Wealth Management LLC’s holdings in Allegion were worth $269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Crewe Advisors LLC grew its stake in Allegion by 160.2% in the 2nd 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. Gradient Investments LLC acquired a new stake in shares of Allegion in the second quarter valued at approximately $38,000. Kimelman & Baird LLC purchased a new position in shares of Allegion during the 2nd quarter worth approximately $39,000. Blue Trust Inc. raised its position in shares of Allegion by 54.0% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after purchasing an additional 121 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Allegion by 255.7% in the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock valued at $42,000 after buying an additional 225 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALLE. Wells Fargo & Company raised their price target on Allegion from $125.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Finally, Barclays upped their target price on shares of Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a report on Wednesday. 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $129.00.

Allegion Trading Down 0.2 %

Allegion stock traded down $0.28 during trading on Friday, hitting $145.61. The company’s stock had a trading volume of 691,526 shares, compared to its average volume of 693,781. The stock’s fifty day moving average is $137.19 and its 200 day moving average is $128.59. Allegion plc has a 1-year low of $95.94 and a 1-year high of $146.76. The stock has a market capitalization of $12.73 billion, a price-to-earnings ratio of 23.75, a P/E/G ratio of 4.38 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 announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The business had revenue of $965.60 million for the quarter, compared to analyst estimates of $953.63 million. During the same period in the prior year, the firm posted $1.76 EPS. The company’s revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that Allegion plc will post 7.26 EPS for the current 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 issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.32%. Allegion’s payout ratio is 31.32%.

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.