Griffin Asset Management Inc. Invests $204,000 in Allegion plc (NYSE:ALLE)

by · The Markets Daily

Griffin Asset Management Inc. acquired a new stake in shares of Allegion plc (NYSE:ALLE – Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,400 shares of the scientific and technical instruments company’s stock, valued at approximately $204,000.

Other large investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC grew its holdings in shares of Allegion by 160.2% during the 2nd quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 149 shares in the last quarter. Gradient Investments LLC acquired a new stake in Allegion during the second quarter valued at $38,000. Kimelman & Baird LLC purchased a new position in Allegion in the second quarter valued at about $39,000. Blue Trust Inc. increased its position in Allegion by 54.0% in the 2nd quarter. Blue Trust Inc. now owns 345 shares of the scientific and technical instruments company’s stock worth $41,000 after purchasing an additional 121 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of Allegion by 255.7% during the 1st quarter. Covestor Ltd now owns 313 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Price Performance

Shares of Allegion stock opened at $150.92 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.23 and a debt-to-equity ratio of 1.40. The firm has a fifty day simple moving average of $139.64 and a 200-day simple moving average of $129.30. The stock has a market capitalization of $13.20 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 4.50 and a beta of 1.12. Allegion plc has a 1-year low of $95.94 and a 1-year high of $151.98.

Allegion (NYSE:ALLE – Get Free Report) last released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $965.60 million during the quarter, compared to analyst estimates of $953.63 million. Allegion had a net margin of 15.08% and a return on equity of 47.21%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.76 EPS. On average, sell-side analysts expect that Allegion plc will post 7.26 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.27%. The ex-dividend date was Friday, September 20th. Allegion’s dividend payout ratio is currently 31.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALLE shares. Barclays boosted their price target on Allegion from $117.00 to $135.00 and gave the company an “underweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased 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. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $132.00.

Read Our Latest Report on ALLE

Allegion Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding ALLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegion plc (NYSE:ALLE – Free Report).