Old West Investment Management LLC Boosts Stake in Allegion PLC $ALLE

Old West Investment Management LLC grew its position in shares of Allegion PLC (NYSE:ALLE) by 13.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,206 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,439 shares during the period. Allegion comprises about 1.1% of Old West Investment Management LLC’s holdings, making the stock its 29th largest holding. Old West Investment Management LLC’s holdings in Allegion were worth $5,002,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Westside Investment Management Inc. raised its position in Allegion by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 70 shares during the period. First Horizon Corp bought a new stake in shares of Allegion in the third quarter worth about $26,000. Hantz Financial Services Inc. grew its position in shares of Allegion by 120.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Allegion in the third quarter valued at $29,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Allegion during the 2nd quarter valued at about $33,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALLE. Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a research report on Wednesday, January 21st. Barclays decreased their target price on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, January 7th. Wells Fargo & Company restated a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Finally, Robert W. Baird boosted their price objective on shares of Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $174.25.

Allegion Price Performance

Shares of Allegion stock opened at $179.91 on Friday. The stock has a market cap of $15.48 billion, a P/E ratio of 24.35, a P/E/G ratio of 3.21 and a beta of 1.03. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.77. The stock’s fifty day moving average is $163.32 and its 200 day moving average is $167.42. Allegion PLC has a one year low of $116.57 and a one year high of $180.68.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from Allegion’s previous quarterly dividend of $0.51. Allegion’s payout ratio is presently 27.60%.

Allegion Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.