Allegion PLC $ALLE Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in shares of Allegion PLC (NYSE:ALLE) by 35.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,339 shares of the scientific and technical instruments company’s stock after selling 8,412 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Allegion were worth $2,721,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its stake in shares of Allegion by 16.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 424 shares of the scientific and technical instruments company’s stock worth $75,000 after buying an additional 60 shares in the last quarter. Huntington National Bank raised its position in Allegion by 7.7% in the second quarter. Huntington National Bank now owns 853 shares of the scientific and technical instruments company’s stock worth $123,000 after acquiring an additional 61 shares in the last quarter. HM Payson & Co. raised its position in Allegion by 2.4% in the third quarter. HM Payson & Co. now owns 2,644 shares of the scientific and technical instruments company’s stock worth $469,000 after acquiring an additional 63 shares in the last quarter. Fulton Bank N.A. lifted its holdings in Allegion by 4.5% in the third quarter. Fulton Bank N.A. now owns 1,529 shares of the scientific and technical instruments company’s stock valued at $271,000 after acquiring an additional 66 shares during the period. Finally, Rovin Capital UT ADV boosted its position in shares of Allegion by 1.6% during the 3rd quarter. Rovin Capital UT ADV now owns 4,207 shares of the scientific and technical instruments company’s stock worth $746,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of ALLE opened at $177.98 on Tuesday. Allegion PLC has a 12-month low of $116.57 and a 12-month high of $180.68. The stock has a market cap of $15.31 billion, a P/E ratio of 24.08, a PEG ratio of 3.28 and a beta of 1.03. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average of $163.58 and a two-hundred day moving average of $167.72.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $2.20 annualized dividend and a dividend yield of 1.2%. This is an increase from Allegion’s previous quarterly dividend of $0.51. Allegion’s dividend payout ratio is 27.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company reiterated a “positive” rating on shares of Allegion in a report on Tuesday, December 16th. Weiss Ratings restated a “buy (b)” rating on shares of Allegion in a research report on Wednesday, January 21st. Robert W. Baird lifted their price target on shares of Allegion from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Finally, Barclays decreased their price target on Allegion from $187.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $174.25.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.