Chevy Chase Trust Holdings LLC Has $6.86 Million Stake in Allegion plc (NYSE:ALLE)

Chevy Chase Trust Holdings LLC cut its holdings in shares of Allegion plc (NYSE:ALLE) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,093 shares of the scientific and technical instruments company’s stock after selling 1,021 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Allegion worth $6,863,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Benjamin Edwards Inc. boosted its position in Allegion by 323.5% during the third quarter. Benjamin Edwards Inc. now owns 1,512 shares of the scientific and technical instruments company’s stock worth $220,000 after purchasing an additional 1,155 shares during the period. Verition Fund Management LLC boosted its holdings in shares of Allegion by 100.7% during the 3rd quarter. Verition Fund Management LLC now owns 11,229 shares of the scientific and technical instruments company’s stock worth $1,637,000 after buying an additional 5,634 shares during the period. Captrust Financial Advisors grew its stake in Allegion by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 3,541 shares of the scientific and technical instruments company’s stock valued at $516,000 after buying an additional 96 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in Allegion by 0.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 110,207 shares of the scientific and technical instruments company’s stock valued at $16,062,000 after buying an additional 973 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Allegion by 11.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,748 shares of the scientific and technical instruments company’s stock valued at $546,000 after acquiring an additional 400 shares during the period. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at Allegion

In other 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 value 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. This represents a 53.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John H. Stone purchased 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ALLE shares. Mizuho upped their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. 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 report on Monday, October 7th. Robert W. Baird boosted their target price on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Barclays raised their price target on shares of Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $144.60.

Allegion Stock Performance

NYSE:ALLE opened at $140.32 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion plc has a fifty-two week low of $104.25 and a fifty-two week high of $156.10. The company has a market cap of $12.20 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 3.35 and a beta of 1.10. The stock has a fifty day moving average price of $143.65 and a 200-day moving average price of $133.22.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. The firm had revenue of $967.10 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.94 earnings per share. As a group, equities analysts anticipate that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.37%. Allegion’s payout ratio is presently 29.49%.

Allegion Company 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.