M&G PLC Buys 443,091 Shares of Allegion PLC $ALLE

M&G PLC lifted its stake in shares of Allegion PLC (NYSE:ALLE) by 1,426.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 474,160 shares of the scientific and technical instruments company’s stock after buying an additional 443,091 shares during the quarter. M&G PLC owned about 0.56% of Allegion worth $72,912,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Continuum Advisory LLC acquired a new stake in Allegion during the 2nd quarter worth $25,000. Elevation Wealth Partners LLC boosted its stake in Allegion by 1,666.7% in the second quarter. Elevation Wealth Partners LLC now owns 212 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in Allegion in the second quarter valued at $42,000. Ameritas Advisory Services LLC acquired a new position in Allegion in the second quarter valued at $44,000. Finally, Brown Lisle Cummings Inc. grew its holdings in shares of Allegion by 14,733.3% during the third quarter. Brown Lisle Cummings Inc. now owns 445 shares of the scientific and technical instruments company’s stock worth $68,000 after purchasing an additional 442 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Activity at Allegion

In other Allegion news, SVP Timothy P. Eckersley sold 6,364 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $178.62, for a total transaction of $1,136,737.68. Following the completion of the sale, the senior vice president directly owned 22,028 shares of the company’s stock, valued at $3,934,641.36. This represents a 22.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Mizell acquired 170 shares of Allegion stock in a transaction on Friday, August 28th. The shares were bought at an average cost of $158.28 per share, with a total value of $26,907.60. Following the completion of the purchase, the director owned 5,899 shares in the company, valued at $933,693.72. The trade was a 2.97% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.64% of the stock is currently owned by insiders.

Allegion Stock Up 2.6%

Shares of NYSE:ALLE opened at $190.24 on Tuesday. The stock has a market cap of $16.04 billion, a P/E ratio of 23.69, a P/E/G ratio of 2.17 and a beta of 0.82. The firm has a fifty day moving average price of $162.00 and a 200 day moving average price of $151.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.24. Allegion PLC has a 1-year low of $125.00 and a 1-year high of $195.42.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 22nd. The scientific and technical instruments company reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.10. Allegion had a net margin of 15.74% and a return on equity of 35.52%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business posted $2.30 earnings per share. Allegion’s quarterly revenue was up 9.6% on a year-over-year basis. Sell-side analysts predict that Allegion PLC will post 9.10 EPS for the current year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, September 15th. Allegion’s payout ratio is 27.40%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALLE. Robert W. Baird set a $196.00 target price on Allegion in a research report on Friday, October 23rd. JPMorgan Chase & Co. upped their target price on Allegion from $170.00 to $183.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Evercore restated an “outperform” rating and set a $180.00 price target on shares of Allegion in a research note on Tuesday, September 22nd. Bank of America raised Allegion from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $164.00 to $200.00 in a research report on Friday, October 23rd. Finally, Weiss Ratings upgraded Allegion from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $180.70.

About Allegion

Allegion plc is a global provider of security products and solutions for homes, businesses, schools, hospitals and other institutions. Its offerings include mechanical and electronic locks, access-control systems, door closers, exit devices and related door hardware.

The company sells products under brands including Schlage, Von Duprin, LCN and CISA. Its solutions are used in both commercial and residential settings, with operations serving customers in North America and other markets around the world.

Allegion was formed in 2013 when it separated from Ingersoll Rand.