Beacon Investment Advisory Services Inc. Increases Stock Holdings in Allegion plc (NYSE:ALLE)

Beacon Investment Advisory Services Inc. boosted its position in shares of Allegion plc (NYSE:ALLE) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,615 shares of the scientific and technical instruments company’s stock after acquiring an additional 125 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Allegion were worth $6,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. McClarren Financial Advisors Inc. raised its holdings in shares of Allegion by 61.0% in the 3rd 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 in the last quarter. Brooklyn Investment Group purchased a new stake in Allegion in the third quarter valued at approximately $28,000. Concord Wealth Partners bought a new stake in Allegion during the third quarter valued at approximately $29,000. Cromwell Holdings LLC grew its stake in Allegion by 65.2% in the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 92 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in shares of Allegion in the 2nd quarter worth $39,000. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of ALLE stock opened at $132.08 on Thursday. The company has a market capitalization of $11.48 billion, a P/E ratio of 20.29, a PEG ratio of 3.34 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The stock has a 50 day moving average price of $135.56 and a two-hundred day moving average price of $136.82. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week 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 for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. During the same period in the prior year, the business posted $1.94 earnings per share. Allegion’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts expect that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, December 17th. Allegion’s dividend payout ratio (DPR) is currently 29.49%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Mizuho increased 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. Morgan Stanley started coverage on Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective on the stock. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a research note on Thursday. Robert W. Baird lifted their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Barclays cut their price objective on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, Allegion has a consensus rating of “Hold” and a consensus target price of $140.83.

Insider Transactions at Allegion

In related news, CEO John H. Stone acquired 7,500 shares of the stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the transaction, the senior vice president now owns 7,104 shares in the company, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

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.