Benson Investment Management Company Inc. Reduces Stock Position in Allegion plc (NYSE:ALLE)

Benson Investment Management Company Inc. trimmed its holdings in shares of Allegion plc (NYSE:ALLE) by 0.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,756 shares of the scientific and technical instruments company’s stock after selling 110 shares during the period. Benson Investment Management Company Inc.’s holdings in Allegion were worth $3,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. McClarren Financial Advisors Inc. raised its stake in 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 worth $27,000 after acquiring an additional 72 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Allegion in the 3rd quarter valued at about $28,000. Concord Wealth Partners purchased a new position in Allegion during the 3rd quarter worth approximately $29,000. Cromwell Holdings LLC lifted its stake 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 buying an additional 92 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in shares of Allegion in the second quarter valued at approximately $39,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Allegion

In other Allegion news, CEO John H. Stone acquired 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALLE. Mizuho lifted their target price on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays dropped their price objective on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird raised their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company reduced their price objective on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley assumed coverage on Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned 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 $140.83.

Allegion Stock Up 1.5 %

Allegion stock opened at $128.12 on Tuesday. The stock’s 50 day moving average price is $136.71 and its 200 day moving average price is $136.12. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a market cap of $11.14 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11. 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 issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same period in the previous year, the firm earned $1.94 EPS. The business’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts predict that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Tuesday, December 17th. Allegion’s dividend payout ratio (DPR) is 29.49%.

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.