TD Asset Management Inc. Sells 11,590 Shares of Allegion plc (NYSE:ALLE)

TD Asset Management Inc. trimmed its position in Allegion plc (NYSE:ALLE) by 17.8% during the third quarter, Holdings Channel reports. The institutional investor owned 53,480 shares of the scientific and technical instruments company’s stock after selling 11,590 shares during the quarter. TD Asset Management Inc.’s holdings in Allegion were worth $7,069,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its position in Allegion by 6.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,168 shares of the scientific and technical instruments company’s stock valued at $162,000 after buying an additional 75 shares during the last quarter. Allworth Financial LP boosted its position in Allegion by 7.2% in the 3rd quarter. Allworth Financial LP now owns 1,191 shares of the scientific and technical instruments company’s stock valued at $157,000 after buying an additional 80 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Allegion by 4.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 2,290 shares of the scientific and technical instruments company’s stock valued at $303,000 after buying an additional 99 shares during the last quarter. Fortem Financial Group LLC boosted its position in shares of Allegion by 1.9% in the 3rd quarter. Fortem Financial Group LLC now owns 5,935 shares of the scientific and technical instruments company’s stock worth $784,000 after purchasing an additional 108 shares during the last quarter. Finally, Capital Asset Advisory Services LLC boosted its position in shares of Allegion by 2.6% in the 3rd quarter. Capital Asset Advisory Services LLC now owns 5,228 shares of the scientific and technical instruments company’s stock worth $691,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

ALLE opened at $124.46 on Friday. The business’s 50-day moving average price is $130.07 and its two-hundred day moving average price is $134.52. Allegion plc has a 1 year low of $106.52 and a 1 year high of $148.70. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 3.03 and a beta of 1.14. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.51 and a quick ratio of 1.08.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Wednesday, October 20th. The scientific and technical instruments company reported $1.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.27. Allegion had a return on equity of 62.97% and a net margin of 16.06%. The firm had revenue of $717.00 million for the quarter, compared to the consensus estimate of $703.29 million. During the same quarter last year, the business posted $1.67 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that Allegion plc will post 5.08 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 30th. Shareholders of record on Monday, December 20th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, December 17th. Allegion’s dividend payout ratio is 28.29%.

Several research firms have recently issued reports on ALLE. Mizuho began coverage on Allegion in a research report on Thursday, December 16th. They issued a “buy” rating and a $170.00 price target on the stock. Robert W. Baird reduced their price target on Allegion from $154.00 to $148.00 and set a “neutral” rating on the stock in a research report on Monday, October 4th. Morgan Stanley raised their price target on Allegion from $137.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Friday, October 22nd. Barclays reduced their price target on Allegion from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, October 4th. Finally, Atlantic Securities initiated coverage on Allegion in a research report on Monday, November 29th. They issued an “overweight” rating and a $155.00 price target on the stock. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $155.70.

In related news, CEO David D. Petratis sold 2,841 shares of Allegion stock in a transaction dated Friday, November 12th. The stock was sold at an average price of $135.00, for a total value of $383,535.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Timothy P. Eckersley sold 2,500 shares of Allegion stock in a transaction dated Thursday, November 18th. The shares were sold at an average price of $136.95, for a total value of $342,375.00. The disclosure for this sale can be found here. Insiders sold a total of 11,167 shares of company stock worth $1,492,269 in the last three months. Company insiders own 0.67% of the company’s stock.

Allegion Profile

Allegion Plc provides security products and solutions that keep people safe, secure and productive. It operates through the following three geographic segments: Americas; Middle East, India, and Africa (EMEIA); and Asia Pacific. The Americas segment sells a range of products and solutions such locks, locksets, portable locks, key systems, door closers, exit devices, doors and door systems, electronic products, and access control and time and attendance systems.

Further Reading: What is the Book Value of a Share?

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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