Commerce Bank Raises Stock Holdings in Allegion plc (NYSE:ALLE)

Commerce Bank lifted its holdings in Allegion plc (NYSE:ALLE - Free Report) by 27.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,629 shares of the scientific and technical instruments company's stock after acquiring an additional 3,339 shares during the period. Commerce Bank's holdings in Allegion were worth $2,042,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ALLE. Millstone Evans Group LLC bought a new position in shares of Allegion during the fourth quarter valued at approximately $28,000. Atala Financial Inc purchased a new position in Allegion during the 4th quarter valued at $35,000. Private Trust Co. NA grew its position in Allegion by 56.1% in 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 acquiring an additional 115 shares during the last quarter. Tortoise Investment Management LLC increased its stake in Allegion by 78.0% in the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company's stock worth $51,000 after purchasing an additional 170 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in shares of 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 purchasing an additional 101 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Allegion Stock Performance

NYSE:ALLE traded down $3.01 during trading hours on Friday, hitting $136.50. 1,052,862 shares of the company were exchanged, compared to its average volume of 831,509. The company's 50 day moving average price is $127.05 and its 200-day moving average price is $133.84. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 3.97 and a beta of 1.01. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.18. The company had revenue of $941.90 million during the quarter, compared to analyst estimates of $918.53 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. As a group, research analysts forecast that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 1.49%. Allegion's dividend payout ratio is currently 29.91%.

Analyst Ratings Changes

A number of brokerages have commented on ALLE. StockNews.com downgraded shares of Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Wells Fargo & Company dropped their price objective on Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird lifted their target price on Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday. Morgan Stanley increased their price target on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Finally, Barclays lifted their price objective on Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a report on Friday. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $140.40.

Insiders Place Their Bets

In other Allegion news, SVP Tracy L. Kemp sold 2,032 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following the transaction, the senior vice president now owns 10,273 shares in the company, valued at approximately $1,302,000.02. This trade represents a 16.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gregg C. Sengstack purchased 8,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the transaction, the director now directly owns 8,000 shares of the company's stock, valued at $1,001,920. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is owned by corporate insiders.

Allegion 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.