Centric Wealth Management Lowers Stake in Allegion plc (NYSE:ALLE)

Centric Wealth Management lessened its stake in Allegion plc (NYSE:ALLE) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,332 shares of the scientific and technical instruments company’s stock after selling 172 shares during the period. Allegion accounts for about 1.1% of Centric Wealth Management’s portfolio, making the stock its 21st largest position. Centric Wealth Management’s holdings in Allegion were worth $4,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Allegion by 397.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock valued at $88,450,000 after acquiring an additional 484,995 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Allegion during the third quarter valued at approximately $666,840,000. Millennium Management LLC increased its holdings in Allegion by 483.1% during the second quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock valued at $60,914,000 after buying an additional 427,146 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Allegion by 13.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock worth $277,581,000 after buying an additional 232,395 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Allegion during the second quarter worth $27,056,000. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Up 0.7 %

NYSE:ALLE opened at $141.41 on Friday. The firm has a market capitalization of $12.29 billion, a P/E ratio of 21.72, a PEG ratio of 3.40 and a beta of 1.11. The company’s fifty day moving average price is $143.87 and its 200-day moving average price is $132.72. Allegion plc has a 1-year low of $103.19 and a 1-year high of $156.10. 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 released 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. The business had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.94 EPS. As a group, equities research analysts anticipate that Allegion plc will post 7.41 EPS for the current year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Friday, September 20th. Allegion’s payout ratio is presently 29.49%.

Insiders Place Their Bets

In other news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was 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 directly owns 7,104 shares in the company, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target 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 lifted their target price on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Mizuho increased their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays lifted their price objective 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $144.60.

About Allegion

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.