Meyer Handelman Co. Sells 1,733 Shares of Allegion plc (NYSE:ALLE)

Meyer Handelman Co. trimmed its holdings in shares of Allegion plc (NYSE:ALLE) by 2.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 69,185 shares of the scientific and technical instruments company’s stock after selling 1,733 shares during the quarter. Meyer Handelman Co.’s holdings in Allegion were worth $9,041,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. lifted its position in shares of 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 valued at $27,000 after acquiring an additional 72 shares during the period. TD Private Client Wealth LLC increased its stake in Allegion by 0.4% in the third quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock valued at $2,871,000 after purchasing an additional 77 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in Allegion by 2.9% in the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock valued at $425,000 after purchasing an additional 82 shares in the last quarter. Thrive Wealth Management LLC raised its holdings in shares of Allegion by 5.0% during the third quarter. Thrive Wealth Management LLC now owns 1,844 shares of the scientific and technical instruments company’s stock valued at $269,000 after purchasing an additional 88 shares during the period. Finally, Cromwell Holdings LLC boosted its position in shares of Allegion by 65.2% during the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 92 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Activity at Allegion

In other news, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction that occurred on 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 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 represents a 53.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John H. Stone purchased 7,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the purchase, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ALLE. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company lowered their target price on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Barclays reduced their price target on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Mizuho upped their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Robert W. Baird raised their price objective on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $140.83.

Allegion Price Performance

Shares of NYSE:ALLE opened at $129.78 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The stock has a market cap of $11.28 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11. The stock’s fifty day simple moving average is $136.49 and its two-hundred day simple moving average is $136.20. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating 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 the consensus estimate of $970.70 million. During the same quarter in the prior year, the company posted $1.94 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts forecast that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, December 17th. Allegion’s dividend payout ratio is presently 29.49%.

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.