BNP Paribas Financial Markets Has $22.12 Million Stake in Allegion plc (NYSE:ALLE)

BNP Paribas Financial Markets raised its stake in Allegion plc (NYSE:ALLE) by 35.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 151,765 shares of the scientific and technical instruments company’s stock after purchasing an additional 39,657 shares during the quarter. BNP Paribas Financial Markets’ holdings in Allegion were worth $22,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Manning & Napier Advisors LLC bought a new stake in Allegion during the second quarter worth $3,762,000. QRG Capital Management Inc. grew its stake in shares of Allegion by 118.4% in the 2nd quarter. QRG Capital Management Inc. now owns 16,277 shares of the scientific and technical instruments company’s stock worth $1,923,000 after acquiring an additional 8,824 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Allegion in the 1st quarter worth $662,000. Renaissance Technologies LLC purchased a new stake in shares of Allegion in the second quarter valued at about $27,056,000. Finally, Raymond James & Associates lifted its position in shares of Allegion by 1.8% during the second quarter. Raymond James & Associates now owns 447,195 shares of the scientific and technical instruments company’s stock valued at $52,836,000 after purchasing an additional 7,780 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

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

Allegion Price Performance

Allegion stock opened at $140.88 on Friday. The business’s 50 day simple moving average is $143.88 and its 200 day simple moving average is $132.82. Allegion plc has a 12 month low of $103.57 and a 12 month high of $156.10. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 3.37 and a beta of 1.11. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.18. The firm had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 earnings per share. Sell-side analysts forecast that Allegion plc will post 7.41 EPS for the current year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 1.36%. Allegion’s dividend payout ratio is presently 29.49%.

Insider Transactions at Allegion

In other news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

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.