Metis Global Partners LLC Boosts Stock Holdings in Allegion plc (NYSE:ALLE)

Metis Global Partners LLC increased its position in shares of Allegion plc (NYSE:ALLE) by 8.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,462 shares of the scientific and technical instruments company’s stock after buying an additional 773 shares during the period. Metis Global Partners LLC’s holdings in Allegion were worth $1,379,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of ALLE. International Assets Investment Management LLC purchased a new stake in shares of Allegion during the third quarter worth about $666,840,000. Millennium Management LLC increased its stake in Allegion by 483.1% during the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock worth $60,914,000 after buying an additional 427,146 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Allegion during the second quarter valued at approximately $27,056,000. AXA S.A. lifted its position in shares of Allegion by 83.6% in the second quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company’s stock valued at $39,179,000 after acquiring an additional 151,013 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Allegion by 7.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,672,237 shares of the scientific and technical instruments company’s stock worth $197,575,000 after acquiring an additional 120,870 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

Allegion stock opened at $139.76 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average price of $143.80 and a 200 day moving average price of $131.66. Allegion plc has a 12-month low of $103.19 and a 12-month high of $156.10. The stock has a market cap of $12.15 billion, a P/E ratio of 21.47, a PEG ratio of 3.34 and a beta of 1.11.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping 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 last year, the firm earned $1.94 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Allegion plc will post 7.45 earnings per share 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 issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s dividend payout ratio is presently 29.49%.

Insider Buying and Selling

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction dated Friday, October 25th. The shares were 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 owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

ALLE has been the subject of several recent research reports. Barclays increased their price objective on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. Robert W. Baird raised their price target 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. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Wells Fargo & Company raised their target price on shares of Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Mizuho upped their price target on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.