NFJ Investment Group LLC Sells 50,535 Shares of Allegion plc (NYSE:ALLE)

NFJ Investment Group LLC trimmed its holdings in shares of Allegion plc (NYSE:ALLE) by 26.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 141,001 shares of the scientific and technical instruments company’s stock after selling 50,535 shares during the period. NFJ Investment Group LLC’s holdings in Allegion were worth $20,549,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ALLE. McClarren Financial Advisors Inc. raised its stake 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 buying an additional 72 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Allegion during the third quarter valued at $28,000. Crewe Advisors LLC raised 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 during the last quarter. Concord Wealth Partners bought a new position in Allegion in the 3rd quarter worth about $29,000. Finally, Cromwell Holdings LLC grew 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 purchasing an additional 92 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALLE. Robert W. Baird upped their target price 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. Wells Fargo & Company upped their price objective on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Barclays lifted their target price on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Finally, Mizuho boosted their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $144.60.

Allegion Stock Performance

NYSE:ALLE traded up $0.28 during trading hours on Tuesday, reaching $140.68. The company had a trading volume of 58,020 shares, compared to its average volume of 724,032. The firm’s 50 day moving average price is $143.83 and its 200-day moving average price is $133.00. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 3.36 and a beta of 1.10. 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 52 week low of $104.25 and a 52 week high of $156.10.

Allegion (NYSE:ALLE) last released its quarterly earnings results 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 firm 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 in the prior year, the firm earned $1.94 EPS. On average, analysts forecast that Allegion plc will post 7.41 EPS for the current year.

Allegion Dividend Announcement

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

Insider Activity

In other Allegion 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 completion of the transaction, the senior vice president now directly owns 7,104 shares in the company, valued at $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 SEC, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

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.