Paloma Partners Management Co Has $568,000 Stake in Allegion plc (NYSE:ALLE)

Paloma Partners Management Co cut its holdings in shares of Allegion plc (NYSE:ALLE) by 40.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,900 shares of the scientific and technical instruments company’s stock after selling 2,633 shares during the quarter. Paloma Partners Management Co’s holdings in Allegion were worth $568,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised its position 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 position 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 acquiring an additional 79 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Allegion by 2.9% during the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock worth $425,000 after acquiring an additional 82 shares during the period. Thrive Wealth Management LLC grew its position in shares of Allegion by 5.0% in the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock valued at $269,000 after purchasing an additional 88 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of 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 purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Mizuho upped their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays lifted their price objective on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research note on Monday, October 28th. Finally, Robert W. Baird increased their target price 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. One research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $144.60.

Allegion Trading Up 0.1 %

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

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.18. The business had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.94 EPS. Analysts predict that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared 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 1.37%. Allegion’s dividend payout ratio (DPR) is currently 29.49%.

Insider Buying and Selling

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was 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 approximately $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

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.