Magnetar Financial LLC Makes New $4.40 Million Investment in Allegion plc (NYSE:ALLE)

Magnetar Financial LLC bought a new stake in Allegion plc (NYSE:ALLE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 33,652 shares of the scientific and technical instruments company's stock, valued at approximately $4,398,000.

A number of other large investors also recently bought and sold shares of ALLE. Brooklyn Investment Group bought a new position in shares of Allegion during the 3rd quarter valued at about $28,000. Atala Financial Inc acquired a new stake in shares of Allegion in the fourth quarter worth about $35,000. Private Trust Co. NA boosted its stake in Allegion by 56.1% during the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock valued at $42,000 after purchasing an additional 115 shares during the period. Tortoise Investment Management LLC lifted its position in shares of Allegion by 78.0% in the 4th quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company's stock worth $51,000 after acquiring an additional 170 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Allegion by 33.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock worth $53,000 after acquiring an additional 101 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Allegion Price Performance

Shares of Allegion stock traded down $0.55 on Friday, reaching $127.17. 2,502,927 shares of the stock were exchanged, compared to its average volume of 724,969. The firm's 50 day moving average is $129.67 and its 200-day moving average is $136.46. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. Allegion plc has a one year low of $113.27 and a one year high of $156.10. The firm has a market cap of $10.97 billion, a PE ratio of 18.65, a P/E/G ratio of 3.97 and a beta of 1.11.

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Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.11. The business had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. As a group, analysts anticipate that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, March 14th. This is a positive change from Allegion's previous quarterly dividend of $0.48. Allegion's payout ratio is 29.91%.

Wall Street Analysts Forecast Growth

ALLE has been the topic of several research reports. Robert W. Baird cut their price target on Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. StockNews.com downgraded shares of Allegion from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Morgan Stanley raised their price target on Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. Finally, Barclays dropped their target price on shares of Allegion from $134.00 to $130.00 and set an "underweight" rating on the stock in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, Allegion has a consensus rating of "Hold" and an average target price of $138.33.

Insider Activity

In other news, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the sale, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David S. Ilardi sold 789 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the sale, the senior vice president now directly owns 9,625 shares of the company's stock, valued at $1,205,820. The trade was a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,224 shares of company stock valued at $406,636. Company insiders own 0.33% of the company's stock.

Allegion Company Profile

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.