Cornerstone Wealth Management LLC Has $192,000 Position in Allegion PLC (ALLE)

Cornerstone Wealth Management LLC reduced its holdings in Allegion PLC (NYSE:ALLE) by 22.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,831 shares of the scientific and technical instruments company’s stock after selling 4,845 shares during the period. Cornerstone Wealth Management LLC’s holdings in Allegion were worth $192,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Handelsbanken Fonder AB increased its position in shares of Allegion by 9.6% during the third quarter. Handelsbanken Fonder AB now owns 846,970 shares of the scientific and technical instruments company’s stock worth $76,710,000 after acquiring an additional 74,060 shares in the last quarter. Aperio Group LLC increased its position in shares of Allegion by 4.7% during the third quarter. Aperio Group LLC now owns 36,540 shares of the scientific and technical instruments company’s stock worth $3,309,000 after acquiring an additional 1,640 shares in the last quarter. Andra AP fonden increased its position in shares of Allegion by 23.1% during the third quarter. Andra AP fonden now owns 12,800 shares of the scientific and technical instruments company’s stock worth $1,159,000 after acquiring an additional 2,400 shares in the last quarter. Dorsey Wright & Associates bought a new stake in shares of Allegion during the third quarter worth $1,581,000. Finally, Bank of Montreal Can increased its position in shares of Allegion by 36.1% during the third quarter. Bank of Montreal Can now owns 58,468 shares of the scientific and technical instruments company’s stock worth $5,295,000 after acquiring an additional 15,521 shares in the last quarter. Institutional investors and hedge funds own 93.39% of the company’s stock.

Several equities research analysts have recently issued reports 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 for the company 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 set an “equal weight” rating and a $88.00 price objective for the company. ValuEngine raised shares of Allegion from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Wells Fargo & Co increased 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 set an “outperform” rating and a $96.00 price objective for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $95.50.

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

Allegion stock opened at $89.39 on Friday. The firm has a market capitalization of $8.47 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05. Allegion PLC has a 1-year low of $73.85 and a 1-year high of $92.87. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 2.37.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 25th. The scientific and technical instruments company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. The business had revenue of $711.50 million during 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%. On average, research analysts anticipate that Allegion PLC will post 4.49 earnings per share for the current year.

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Allegion Company Profile

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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