Brown Brothers Harriman & Co. Lowers Holdings in Allegion plc (NYSE:ALLE)

Brown Brothers Harriman & Co. cut its stake in shares of Allegion plc (NYSE:ALLE) by 11.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,830 shares of the scientific and technical instruments company’s stock after selling 364 shares during the period. Brown Brothers Harriman & Co.’s holdings in Allegion were worth $412,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Allegion during the 3rd quarter valued at $666,840,000. Millennium Management LLC increased its holdings in Allegion by 483.1% in the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company’s stock worth $60,914,000 after buying an additional 427,146 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Allegion by 13.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock valued at $277,581,000 after acquiring an additional 232,395 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Allegion during the 2nd quarter valued at about $27,056,000. Finally, AXA S.A. grew its stake in shares of Allegion by 83.6% in the second quarter. AXA S.A. now owns 331,605 shares of the scientific and technical instruments company’s stock worth $39,179,000 after acquiring an additional 151,013 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 8,035 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the transaction, the senior vice president now directly owns 7,104 shares of the company’s stock, valued at approximately $1,029,511.68. The trade was a 53.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by insiders.

Allegion Stock Performance

NYSE:ALLE opened at $141.42 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The stock has a 50-day simple moving average of $143.92 and a two-hundred day simple moving average of $132.66. The firm has a market capitalization of $12.29 billion, a PE ratio of 21.72, a P/E/G ratio of 3.40 and a beta of 1.11. Allegion plc has a 52-week low of $103.19 and a 52-week high of $156.10.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (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 during the quarter, compared to analyst estimates of $970.70 million. During the same period in the prior year, the firm posted $1.94 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts forecast that Allegion plc will post 7.41 EPS for the current year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.92 annualized dividend and a dividend yield of 1.36%. Allegion’s payout ratio is 29.49%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ALLE shares. Robert W. Baird raised their target price on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Mizuho lifted their price objective on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays upped their price objective on Allegion from $135.00 to $137.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company raised their target price on Allegion from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $144.60.

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.