Vaughan Nelson Investment Management L.P. Sells 773 Shares of Allegion plc (NYSE:ALLE)

Vaughan Nelson Investment Management L.P. cut its position in shares of Allegion plc (NYSE:ALLEGet Rating) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,389 shares of the scientific and technical instruments company’s stock after selling 773 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Allegion were worth $6,760,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CX Institutional bought a new stake in shares of Allegion during the second quarter valued at approximately $27,000. Private Trust Co. NA bought a new stake in Allegion in the second quarter worth $27,000. Adirondack Trust Co. boosted its holdings in Allegion by 59.0% in the third quarter. Adirondack Trust Co. now owns 318 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 118 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Allegion by 172.9% in the third quarter. Parkside Financial Bank & Trust now owns 322 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 204 shares in the last quarter. Finally, Heritage Wealth Advisors boosted its holdings in Allegion by 66.5% in the second quarter. Heritage Wealth Advisors now owns 333 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 133 shares in the last quarter. 92.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ALLE shares. StockNews.com started coverage on Allegion in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley boosted their target price on Allegion from $107.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, January 6th. Wells Fargo & Company boosted their target price on Allegion from $121.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, January 19th. TheStreet upgraded Allegion from a “c+” rating to a “b-” rating in a research note on Wednesday, November 23rd. Finally, Mizuho boosted their price target on Allegion from $114.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, January 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $119.22.

Allegion Stock Up 1.2 %

Allegion stock opened at $113.39 on Wednesday. The stock has a fifty day moving average of $110.05 and a 200 day moving average of $102.90. Allegion plc has a one year low of $87.33 and a one year high of $125.39. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.10 and a current ratio of 1.79. The stock has a market cap of $9.96 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Allegion (NYSE:ALLEGet Rating) last released its quarterly earnings results on Thursday, October 27th. The scientific and technical instruments company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.19. Allegion had a return on equity of 59.82% and a net margin of 13.96%. The business had revenue of $913.70 million during the quarter, compared to analyst estimates of $873.58 million. During the same quarter in the previous year, the company posted $1.56 earnings per share. Allegion’s revenue for the quarter was up 27.4% on a year-over-year basis. As a group, sell-side analysts predict that Allegion plc will post 5.46 EPS for the current year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 16th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, December 15th. Allegion’s dividend payout ratio is presently 33.40%.

Insider Buying and Selling at Allegion

In other Allegion news, CEO John H. Stone acquired 12,500 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was purchased at an average price of $104.45 per share, with a total value of $1,305,625.00. Following the completion of the purchase, the chief executive officer now directly owns 64,535 shares in the company, valued at approximately $6,740,680.75. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is currently owned by corporate insiders.

About Allegion

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Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, 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 and door systems; and other accessories.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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