Thrivent Financial for Lutherans Increases Position in Allegion plc (NYSE:ALLE)

Thrivent Financial for Lutherans raised its position in shares of Allegion plc (NYSE:ALLE) by 42.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,265 shares of the scientific and technical instruments company’s stock after buying an additional 1,576 shares during the period. Thrivent Financial for Lutherans’ holdings in Allegion were worth $768,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC grew its position in Allegion by 2.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock valued at $442,019,000 after acquiring an additional 91,011 shares in the last quarter. Van ECK Associates Corp increased its stake in Allegion by 1.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock worth $479,577,000 after buying an additional 39,905 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Allegion by 7.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock worth $197,575,000 after buying an additional 120,870 shares in the last quarter. Millennium Management LLC boosted its position in Allegion by 483.1% in the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock valued at $60,914,000 after buying an additional 427,146 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Allegion by 2.9% in the third quarter. Raymond James & Associates now owns 460,290 shares of the scientific and technical instruments company’s stock worth $67,083,000 after acquiring an additional 13,095 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Allegion

In other news, SVP Robert C. Martens sold 8,035 shares of the company’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 transaction, the senior vice president now owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This represents a 53.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALLE. Wells Fargo & Company lifted their target price on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Barclays raised their price objective on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Robert W. Baird boosted their target price on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Mizuho raised their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Allegion presently has a consensus rating of “Hold” and an average price target of $144.60.

Allegion Stock Up 0.1 %

ALLE opened at $140.48 on Wednesday. Allegion plc has a 12 month low of $104.25 and a 12 month high of $156.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The business has a 50 day simple moving average of $143.77 and a 200-day simple moving average of $133.11. The stock has a market capitalization of $12.21 billion, a P/E ratio of 21.58, a P/E/G ratio of 3.35 and a beta of 1.10.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same quarter in the prior year, the company earned $1.94 earnings per share. Allegion’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Allegion plc will post 7.41 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were given 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 yield of 1.37%. Allegion’s dividend payout ratio (DPR) is currently 29.49%.

About Allegion

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.