Mirabella Financial Services LLP Buys 47,391 Shares of Allegion plc (NYSE:ALLE)

Mirabella Financial Services LLP raised its holdings in Allegion plc (NYSE:ALLE) by 1,209.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,308 shares of the scientific and technical instruments company’s stock after buying an additional 47,391 shares during the quarter. Mirabella Financial Services LLP owned about 0.06% of Allegion worth $7,478,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ALLE. McClarren Financial Advisors Inc. lifted its position in Allegion by 61.0% during the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 72 shares during the period. Concord Wealth Partners purchased a new stake in Allegion in the third quarter worth about $29,000. Cromwell Holdings LLC grew its holdings in Allegion by 65.2% in the third 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 during the period. Crewe Advisors LLC increased its stake in shares of Allegion by 160.2% during the second quarter. Crewe Advisors LLC now owns 242 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 149 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Allegion by 66.2% during the third quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock valued at $47,000 after purchasing an additional 129 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Stock Down 0.0 %

ALLE stock opened at $141.38 on Monday. The stock has a market capitalization of $12.29 billion, a P/E ratio of 21.72, a P/E/G ratio of 3.37 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. Allegion plc has a 1-year low of $103.19 and a 1-year high of $156.10. The business has a fifty day moving average price of $144.02 and a 200-day moving average price of $132.37.

Allegion (NYSE:ALLE) last posted 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. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business had revenue of $967.10 million for the quarter, compared to analysts’ expectations of $970.70 million. During the same quarter in the prior year, the business earned $1.94 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts forecast that Allegion plc will post 7.41 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued 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%.

Insider Transactions at Allegion

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the firm’s stock in a transaction dated 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. This trade represents a 53.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

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

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.