Brown Brothers Harriman & Co. Cuts Stock Holdings in Allegion plc (NYSE:ALLE)

Brown Brothers Harriman & Co. reduced its stake in Allegion plc (NYSE:ALLE) by 11.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,830 shares of the scientific and technical instruments company’s stock after selling 364 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Allegion were worth $412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ALLE. McClarren Financial Advisors Inc. increased its position 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 valued at $27,000 after purchasing an additional 72 shares during the last quarter. Greenwich Wealth Management LLC grew its position in Allegion by 0.5% during the second quarter. Greenwich Wealth Management LLC now owns 14,908 shares of the scientific and technical instruments company’s stock valued at $1,761,000 after acquiring an additional 79 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Allegion by 2.9% during the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock worth $425,000 after acquiring an additional 82 shares in the last quarter. Thrive Wealth Management LLC lifted its holdings in shares of Allegion by 5.0% in the 3rd quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock worth $269,000 after acquiring an additional 88 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of Allegion by 3.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,620 shares of the scientific and technical instruments company’s stock valued at $310,000 after purchasing an additional 92 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALLE has been the subject of several recent research reports. Wells Fargo & Company boosted their price target 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. Mizuho boosted their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays raised their price target on Allegion from $135.00 to $137.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. Finally, Robert W. Baird boosted their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $144.60.

Allegion Price Performance

Shares of ALLE stock opened at $141.42 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The firm has a market cap of $12.29 billion, a P/E ratio of 21.72, a P/E/G ratio of 3.40 and a beta of 1.11. The business’s 50 day moving average price is $143.92 and its 200-day moving average price is $132.66. Allegion plc has a fifty-two week low of $103.19 and a fifty-two week high of $156.10.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $970.70 million. During the same period in the previous year, the firm earned $1.94 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Announces Dividend

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

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 sale, the senior vice president now owns 7,104 shares in the company, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

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.