Dai ichi Life Insurance Company Ltd Takes Position in Allegion plc (NYSE:ALLE)

Dai ichi Life Insurance Company Ltd purchased a new stake in shares of Allegion plc (NYSE:ALLE) in the third quarter, Holdings Channel reports. The firm purchased 4,923 shares of the scientific and technical instruments company’s stock, valued at approximately $717,000.

A number of other hedge funds have also bought and sold shares of ALLE. International Assets Investment Management LLC purchased a new position in Allegion in the third quarter valued at about $666,840,000. Millennium Management LLC raised its holdings in shares of Allegion by 483.1% in the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock worth $60,914,000 after purchasing an additional 427,146 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Allegion by 13.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock valued at $277,581,000 after purchasing an additional 232,395 shares during the last quarter. Renaissance Technologies LLC bought a new position in Allegion during the second quarter valued at $27,056,000. Finally, AXA S.A. increased its position in Allegion by 83.6% in the second quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company’s stock worth $39,179,000 after buying an additional 151,013 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays upped their price target on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Mizuho upped their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company increased their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $144.60.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by company insiders.

Allegion Stock Up 0.7 %

Shares of NYSE ALLE opened at $141.41 on Friday. The business has a 50-day simple moving average of $143.87 and a two-hundred day simple moving average of $132.72. Allegion plc has a 52 week low of $103.19 and a 52 week high of $156.10. The company has a market cap of $12.29 billion, a P/E ratio of 21.72, a P/E/G ratio of 3.40 and a beta of 1.11. 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 (NYSE:ALLE) last released 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. The company had revenue of $967.10 million during 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%. Allegion’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $1.94 earnings per share. Research analysts anticipate that Allegion plc will post 7.41 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.36%. Allegion’s payout ratio is currently 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.