Lafayette Investments Inc. Reduces Position in Allegion plc (NYSE:ALLE)

Lafayette Investments Inc. lessened its holdings in shares of Allegion plc (NYSE:ALLE) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,332 shares of the scientific and technical instruments company’s stock after selling 169 shares during the period. Allegion comprises approximately 1.0% of Lafayette Investments Inc.’s investment portfolio, making the stock its 27th biggest position. Lafayette Investments Inc.’s holdings in Allegion were worth $4,712,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ALLE. McClarren Financial Advisors Inc. boosted its holdings in shares of Allegion by 61.0% in the third 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. Greenwich Wealth Management LLC lifted its holdings in Allegion by 0.5% during the second quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock worth $1,761,000 after buying an additional 79 shares during the period. Thrive Wealth Management LLC lifted its holdings in Allegion by 5.0% during the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock worth $269,000 after buying an additional 88 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Allegion by 3.6% during the second quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company’s stock worth $310,000 after buying an additional 92 shares during the period. Finally, Pitcairn Co. lifted its holdings in Allegion by 3.5% during the first quarter. Pitcairn Co. now owns 2,784 shares of the scientific and technical instruments company’s stock worth $375,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of NYSE ALLE traded down $5.69 during mid-day trading on Thursday, hitting $145.17. The stock had a trading volume of 391,423 shares, compared to its average volume of 700,017. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.23 and a current ratio of 1.66. The company has a 50 day moving average of $141.86 and a two-hundred day moving average of $130.00. Allegion plc has a twelve month low of $95.94 and a twelve month high of $156.10. The firm has a market cap of $12.69 billion, a PE ratio of 24.61, a PEG ratio of 4.50 and a beta of 1.12.

Allegion (NYSE:ALLE) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The firm had revenue of $965.60 million for the quarter, compared to the consensus estimate of $953.63 million. During the same period in the prior year, the firm earned $1.76 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. Research analysts predict that Allegion plc will post 7.26 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.32%. The ex-dividend date was Friday, September 20th. Allegion’s payout ratio is 31.32%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ALLE shares. Mizuho upped their target price on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays upped their price target on Allegion from $117.00 to $135.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 2nd. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Finally, Wells Fargo & Company upped their price target on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $142.25.

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.