Oppenheimer & Co. Inc. Cuts Holdings in Allegion PLC (ALLE)

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Oppenheimer & Co. Inc. lowered its stake in Allegion PLC (NYSE:ALLE) by 9.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,220 shares of the scientific and technical instruments company’s stock after selling 837 shares during the period. Oppenheimer & Co. Inc.’s holdings in Allegion were worth $744,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALLE. Fort L.P. bought a new stake in shares of Allegion in the second quarter worth $119,000. IFP Advisors Inc lifted its position in shares of Allegion by 170.3% in the third quarter. IFP Advisors Inc now owns 2,030 shares of the scientific and technical instruments company’s stock worth $184,000 after purchasing an additional 1,279 shares in the last quarter. Mission Wealth Management LP bought a new stake in shares of Allegion in the second quarter worth $200,000. Intrust Bank NA bought a new stake in shares of Allegion in the second quarter worth $205,000. Finally, Creative Planning bought a new stake in shares of Allegion in the third quarter worth $222,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on ALLE shares. Zacks Investment Research raised shares of Allegion from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Monday, July 16th. Morgan Stanley started coverage on shares of Allegion in a research report on Monday, August 20th. They issued an “equal weight” rating and a $88.00 price objective on the stock. ValuEngine raised shares of Allegion from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Wells Fargo & Co boosted their price objective on shares of Allegion from $96.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, October 26th. Finally, Credit Suisse Group started coverage on shares of Allegion in a research report on Friday, October 12th. They issued an “outperform” rating and a $96.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $95.50.

In related news, insider Douglas P. Ranck sold 3,200 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $89.78, for a total transaction of $287,296.00. Following the transaction, the insider now directly owns 10,348 shares in the company, valued at $929,043.44. The sale was disclosed in a filing with the SEC, which is available through this link. 0.75% of the stock is currently owned by insiders.

Shares of ALLE stock opened at $89.11 on Wednesday. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.22 and a current ratio of 1.79. The firm has a market capitalization of $8.38 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. Allegion PLC has a 12 month low of $73.85 and a 12 month high of $92.87.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 25th. The scientific and technical instruments company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.02. The business had revenue of $711.50 million for the quarter, compared to the consensus estimate of $699.07 million. Allegion had a net margin of 11.75% and a return on equity of 85.03%. Analysts anticipate that Allegion PLC will post 4.49 earnings per share for the current fiscal year.

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About Allegion

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

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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