Mission Wealth Management LP Cuts Stock Holdings in Allegion PLC (NYSE:ALLE)

Mission Wealth Management LP lowered its stake in shares of Allegion PLC (NYSE:ALLE) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,896 shares of the scientific and technical instruments company’s stock after selling 245 shares during the quarter. Mission Wealth Management LP’s holdings in Allegion were worth $300,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Nuveen Asset Management LLC boosted its stake in Allegion by 60,770.0% during the second quarter. Nuveen Asset Management LLC now owns 1,414,010 shares of the scientific and technical instruments company’s stock worth $156,319,000 after buying an additional 1,411,687 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Allegion by 120.7% in the 2nd quarter. Invesco Ltd. now owns 1,694,728 shares of the scientific and technical instruments company’s stock valued at $187,352,000 after purchasing an additional 926,897 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Allegion by 10.8% in the 2nd quarter. BlackRock Inc. now owns 8,406,547 shares of the scientific and technical instruments company’s stock valued at $929,344,000 after purchasing an additional 821,079 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Allegion by 32.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,620,226 shares of the scientific and technical instruments company’s stock valued at $179,116,000 after purchasing an additional 398,854 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Allegion by 808.4% in the 2nd quarter. Royal Bank of Canada now owns 381,021 shares of the scientific and technical instruments company’s stock valued at $42,121,000 after purchasing an additional 339,075 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently issued reports on ALLE shares. ValuEngine downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Credit Suisse Group upped their price target on shares of Allegion from $105.00 to $114.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Zacks Investment Research upgraded shares of Allegion from a “sell” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Monday, October 28th. Morgan Stanley upped their price target on shares of Allegion from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Bank of America set a $125.00 price target on shares of Allegion and gave the stock a “buy” rating in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Allegion currently has a consensus rating of “Hold” and a consensus price target of $114.63.

Shares of ALLE stock traded up $0.38 on Friday, reaching $115.65. The company had a trading volume of 978,995 shares, compared to its average volume of 728,096. The company has a current ratio of 1.90, a quick ratio of 1.30 and a debt-to-equity ratio of 2.08. The stock has a market cap of $10.88 billion, a PE ratio of 25.70, a PEG ratio of 2.07 and a beta of 1.17. The company has a 50-day moving average of $106.73 and a 200-day moving average of $103.11. Allegion PLC has a 12 month low of $74.83 and a 12 month high of $119.39.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.14. Allegion had a return on equity of 69.28% and a net margin of 16.00%. The company had revenue of $748.30 million during the quarter, compared to analysts’ expectations of $737.64 million. During the same period in the prior year, the business posted $1.23 EPS. Allegion’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Allegion PLC will post 4.89 earnings per share for the current year.

In other Allegion news, SVP Tracy L. Kemp sold 17,860 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $115.84, for a total transaction of $2,068,902.40. Following the completion of the transaction, the senior vice president now owns 14,770 shares of the company’s stock, valued at approximately $1,710,956.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Timothy P. Eckersley sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $116.13, for a total value of $1,161,300.00. Following the transaction, the vice president now directly owns 37,710 shares of the company’s stock, valued at approximately $4,379,262.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,645 shares of company stock valued at $5,862,284. 0.77% of the stock is owned by company insiders.

About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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