Allegion plc (NYSE:ALLE) Holdings Lowered by Thrive Wealth Management LLC

Thrive Wealth Management LLC decreased its stake in Allegion plc (NYSE:ALLE) by 10.6% in the fourth quarter, HoldingsChannel reports. The firm owned 1,648 shares of the scientific and technical instruments company’s stock after selling 196 shares during the period. Thrive Wealth Management LLC’s holdings in Allegion were worth $215,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ALLE. McClarren Financial Advisors Inc. raised its stake in Allegion by 61.0% during the 3rd 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 period. Brooklyn Investment Group purchased a new position in shares of Allegion during the third quarter valued at $28,000. Concord Wealth Partners acquired a new position in Allegion during the third quarter valued at $29,000. Cromwell Holdings LLC lifted its stake in Allegion by 65.2% in the 3rd 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 in the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in Allegion during the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

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

Allegion Price Performance

NYSE ALLE opened at $133.72 on Tuesday. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The stock’s 50-day moving average is $135.70 and its two-hundred day moving average is $136.68. The firm has a market cap of $11.62 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 2.93 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

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, topping the consensus estimate of $1.98 by $0.18. The firm had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 EPS. On average, analysts anticipate that Allegion plc will post 7.42 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a $0.48 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a yield of 1.44%. Allegion’s payout ratio is presently 29.49%.

Insider Buying and Selling

In other news, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the sale, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John H. Stone bought 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This trade represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

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.