Benson Investment Management Company Inc. Trims Stock Position in Allegion plc (NYSE:ALLE)

Benson Investment Management Company Inc. decreased its holdings in Allegion plc (NYSE:ALLE) by 0.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 27,756 shares of the scientific and technical instruments company’s stock after selling 110 shares during the period. Benson Investment Management Company Inc.’s holdings in Allegion were worth $3,627,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ALLE. McClarren Financial Advisors Inc. increased its holdings in shares of Allegion by 61.0% during the 3rd 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 during the last quarter. Brooklyn Investment Group acquired a new stake in Allegion during the third quarter worth about $28,000. Concord Wealth Partners purchased a new position in shares of Allegion in the 3rd quarter worth about $29,000. Cromwell Holdings LLC lifted its stake in shares of Allegion by 65.2% in 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 in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Allegion by 66.2% during the 3rd quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock worth $47,000 after purchasing an additional 129 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Robert W. Baird raised their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company reduced their target price on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Barclays lowered their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Mizuho boosted their price objective on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley assumed coverage on Allegion in a research note on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $140.83.

Insider Activity at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the firm’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 sale, the senior vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John H. Stone purchased 7,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Allegion Stock Performance

Allegion stock opened at $128.12 on Tuesday. The company has a market cap of $11.14 billion, a PE ratio of 19.68, a P/E/G ratio of 3.35 and a beta of 1.11. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The company has a fifty day moving average price of $136.71 and a two-hundred day moving average price of $136.12. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business had revenue of $967.10 million during the quarter, compared to the consensus estimate of $970.70 million. During the same quarter in the prior year, the firm earned $1.94 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts expect that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, December 17th. Allegion’s dividend payout ratio (DPR) is 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.