Centric Wealth Management Decreases Holdings in Allegion plc (NYSE:ALLE)

Centric Wealth Management lowered its stake in shares of Allegion plc (NYSE:ALLE) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,332 shares of the scientific and technical instruments company’s stock after selling 172 shares during the period. Allegion comprises 1.1% of Centric Wealth Management’s investment portfolio, making the stock its 21st biggest position. Centric Wealth Management’s holdings in Allegion were worth $4,275,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. McClarren Financial Advisors Inc. grew 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 worth $27,000 after buying an additional 72 shares in the last quarter. Greenwich Wealth Management LLC raised its holdings in Allegion by 0.5% in the 2nd quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock valued at $1,761,000 after acquiring an additional 79 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in Allegion by 2.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock worth $425,000 after purchasing an additional 82 shares in the last quarter. Thrive Wealth Management LLC boosted its holdings in shares of Allegion by 5.0% during the 3rd quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock worth $269,000 after purchasing an additional 88 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in shares of Allegion by 3.6% in the second quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company’s stock valued at $310,000 after purchasing an additional 92 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Price Performance

Shares of ALLE opened at $141.41 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The firm 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 1-year low of $103.19 and a 1-year high of $156.10. The stock has a market cap of $12.29 billion, a PE ratio of 21.72, a P/E/G ratio of 3.40 and a beta of 1.11.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.98 by $0.18. The business 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%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.94 earnings per share. As a group, analysts forecast that Allegion plc will post 7.41 EPS for the current year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, September 20th. Allegion’s dividend payout ratio is presently 29.49%.

Insider Buying and Selling

In other news, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the transaction, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Barclays lifted their price target on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a 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. Finally, Robert W. Baird raised their price objective on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $144.60.

About Allegion

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.