Van ECK Associates Corp Buys 39,905 Shares of Allegion plc (NYSE:ALLE)

Van ECK Associates Corp grew its stake in Allegion plc (NYSE:ALLE) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,178,952 shares of the scientific and technical instruments company’s stock after acquiring an additional 39,905 shares during the quarter. Van ECK Associates Corp owned about 3.64% of Allegion worth $479,577,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. McClarren Financial Advisors Inc. lifted its position in 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 last quarter. Crewe Advisors LLC boosted its position in shares of Allegion by 160.2% in the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Concord Wealth Partners purchased a new position in Allegion during the 3rd quarter worth $29,000. Cromwell Holdings LLC increased its position 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 buying an additional 92 shares in the last quarter. Finally, Gradient Investments LLC purchased a new stake in Allegion in the second quarter valued at about $38,000. 92.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Robert W. Baird upped their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Mizuho raised their price target on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays boosted their price objective on shares of Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company raised their target price 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 assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Allegion presently has a consensus rating of “Hold” and an average target price of $144.60.

Insider Activity at Allegion

In related news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the transaction, the senior vice president now directly owns 7,104 shares in the company, valued at $1,029,511.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

Allegion Stock Performance

Shares of NYSE ALLE opened at $139.83 on Friday. The company has a 50 day simple moving average of $142.92 and a two-hundred day simple moving average of $130.58. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 3.30 and a beta of 1.12. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. Allegion plc has a 12 month low of $98.21 and a 12 month high of $156.10.

Allegion (NYSE:ALLE) last posted its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. The company had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 earnings per share. As a group, analysts predict that Allegion plc will post 7.45 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, September 20th. Allegion’s dividend payout ratio (DPR) is 29.49%.

Allegion 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.