AMG National Trust Bank Decreases Stake in Allegion plc (NYSE:ALLE)

AMG National Trust Bank lessened its holdings in shares of Allegion plc (NYSE:ALLE) by 2.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,255 shares of the scientific and technical instruments company’s stock after selling 74 shares during the quarter. AMG National Trust Bank’s holdings in Allegion were worth $474,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. McClarren Financial Advisors Inc. boosted its position in shares of Allegion by 61.0% in 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 during the period. Crewe Advisors LLC lifted its position in Allegion by 160.2% during the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Concord Wealth Partners purchased a new position in Allegion in the 3rd quarter worth approximately $29,000. Cromwell Holdings LLC grew its position in Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 92 shares in the last quarter. Finally, Gradient Investments LLC acquired a new stake in Allegion in the second quarter valued at approximately $38,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Price Performance

Shares of ALLE opened at $138.13 on Wednesday. Allegion plc has a 52 week low of $103.19 and a 52 week high of $156.10. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The firm has a market cap of $12.01 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 3.33 and a beta of 1.11. The stock has a 50 day moving average of $143.88 and a 200-day moving average of $131.92.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share 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 firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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 firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 20th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 annualized dividend and a yield of 1.39%. Allegion’s dividend payout ratio (DPR) is 29.49%.

Analyst Ratings Changes

ALLE has been the topic of a number of recent research reports. Robert W. Baird boosted their target price 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. Wells Fargo & Company upped their price objective on shares of Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Mizuho lifted their target price on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Finally, Barclays lifted their price objective on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $144.60.

Insiders Place Their Bets

In other news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction on 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 approximately $1,029,511.68. The trade was a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

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.