Freedom Investment Management Inc. Acquires Shares of 4,636 Allegion plc (NYSE:ALLE)

Freedom Investment Management Inc. bought a new position in Allegion plc (NYSE:ALLE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,636 shares of the scientific and technical instruments company’s stock, valued at approximately $676,000.

Several other hedge funds and other institutional investors have also modified their holdings of ALLE. International Assets Investment Management LLC acquired a new position in Allegion in the third quarter valued at about $666,840,000. Millennium Management LLC raised its position in 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 valued at $60,914,000 after purchasing an additional 427,146 shares during the last quarter. Massachusetts Financial Services Co. MA boosted 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 worth $277,581,000 after purchasing an additional 232,395 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Allegion during the second quarter worth $27,056,000. Finally, FMR LLC increased its stake in shares of Allegion by 231.9% in the third quarter. FMR LLC now owns 290,466 shares of the scientific and technical instruments company’s stock valued at $42,333,000 after buying an additional 202,957 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Up 0.7 %

Shares of NYSE: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 stock has a market cap of $12.29 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 3.40 and a beta of 1.11. The company has a 50 day moving average of $143.87 and a 200-day moving average of $132.72. Allegion plc has a one year low of $103.19 and a one year high of $156.10.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.94 EPS. On average, sell-side analysts forecast that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Dividend Announcement

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

Insiders Place Their Bets

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 7,104 shares in the company, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

ALLE has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Mizuho increased their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company boosted their price objective 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 objective on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $144.60.

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.