Clear Harbor Asset Management LLC Buys New Position in Allegion plc (NYSE:ALLE)

Clear Harbor Asset Management LLC acquired a new stake in shares of Allegion plc (NYSE:ALLE) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,450 shares of the scientific and technical instruments company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. McClarren Financial Advisors Inc. raised its holdings in shares of Allegion by 61.0% during 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 acquiring an additional 72 shares during the period. Crewe Advisors LLC lifted its holdings in shares of Allegion by 160.2% in the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 149 shares in the last quarter. Cromwell Holdings LLC grew its stake in Allegion by 65.2% during the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 92 shares in the last quarter. Gradient Investments LLC acquired a new position in shares of Allegion in the 2nd quarter valued at about $38,000. Finally, Kimelman & Baird LLC acquired a new position in shares of Allegion in the 2nd quarter valued at about $39,000. 92.21% of the stock is currently owned by institutional investors.

Allegion Trading Down 1.8 %

Shares of NYSE:ALLE opened at $142.60 on Monday. Allegion plc has a 1 year low of $95.97 and a 1 year high of $156.10. The firm has a fifty day moving average price of $142.34 and a 200 day moving average price of $130.15. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $12.47 billion, a PE ratio of 23.26, a P/E/G ratio of 4.50 and a beta of 1.12.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same quarter in the prior year, the firm posted $1.94 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts expect that Allegion plc will post 7.26 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Friday, September 20th. Allegion’s payout ratio is 31.32%.

Wall Street Analysts Forecast Growth

ALLE has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a research report on Wednesday, October 2nd. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Robert W. Baird increased their price objective on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday. Mizuho boosted their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company raised their price target on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $144.20.

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.