Massachusetts Wealth Management Takes Position in Allegion plc (NYSE:ALLE)

Massachusetts Wealth Management bought a new position in shares of Allegion plc (NYSE:ALLE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,519 shares of the scientific and technical instruments company’s stock, valued at approximately $221,000.

Several other hedge funds have also recently bought and sold shares of ALLE. McClarren Financial Advisors Inc. lifted its position in shares of Allegion by 61.0% during the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 72 shares in the last quarter. Crewe Advisors LLC increased its position in shares of Allegion by 160.2% during the second 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 during the last quarter. Gradient Investments LLC acquired a new position in shares of Allegion in the second quarter worth about $38,000. Kimelman & Baird LLC purchased a new position in Allegion in the second quarter valued at about $39,000. Finally, Blue Trust Inc. grew its stake in Allegion by 54.0% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock valued at $41,000 after purchasing an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ALLE. Wells Fargo & Company increased their target price on Allegion from $137.00 to $152.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Mizuho increased their price objective on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Robert W. Baird increased their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Barclays upped their price objective on Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $144.20.

Allegion Stock Performance

Shares of NYSE:ALLE traded down $0.52 during trading on Friday, reaching $144.75. 196,222 shares of the company’s stock traded hands, compared to its average volume of 705,224. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.66 and a quick ratio of 1.23. The company has a 50 day moving average of $142.11 and a 200-day moving average of $130.11. Allegion plc has a 12 month low of $95.97 and a 12 month high of $156.10. The stock has a market capitalization of $12.66 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 4.50 and a beta of 1.12.

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 for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. The business had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. Allegion had a return on equity of 47.21% and a net margin of 15.08%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.94 EPS. On average, equities analysts expect that Allegion plc will post 7.26 EPS for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Friday, September 20th. Allegion’s payout ratio is 31.32%.

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.