Invesco Ltd. Increases Stake in Allegion plc (NYSE:ALLE)

Invesco Ltd. grew its holdings in shares of Allegion plc (NYSE:ALLE - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,761,458 shares of the scientific and technical instruments company's stock after acquiring an additional 169,149 shares during the quarter. Invesco Ltd. owned about 2.03% of Allegion worth $230,187,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Allegion during the 4th quarter valued at $108,058,000. Lord Abbett & CO. LLC lifted its stake in Allegion by 96.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company's stock worth $244,063,000 after purchasing an additional 823,874 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Allegion in the 4th quarter worth about $65,175,000. Boston Partners raised its holdings in shares of Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company's stock valued at $616,503,000 after buying an additional 488,390 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Allegion by 312.4% in the 4th quarter. Allianz Asset Management GmbH now owns 574,012 shares of the scientific and technical instruments company's stock worth $75,012,000 after buying an additional 434,820 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Allegion Trading Up 1.1 %

Shares of NYSE:ALLE traded up $1.43 on Thursday, hitting $126.56. The company had a trading volume of 223,303 shares, compared to its average volume of 812,076. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The firm's 50-day simple moving average is $127.55 and its two-hundred day simple moving average is $134.56. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 3.97 and a beta of 1.01.

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Allegion (NYSE:ALLE - Get Free Report) last announced its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. The firm had revenue of $945.60 million during 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%. Equities analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, June 13th. Allegion's dividend payout ratio is 29.91%.

Insider Activity

In related news, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the sale, the senior vice president now directly owns 10,273 shares of the company's stock, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP David S. Ilardi sold 789 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the transaction, the senior vice president now owns 9,625 shares in the company, valued at $1,205,820. This represents a 7.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,224 shares of company stock worth $406,636. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

ALLE has been the subject of a number of recent research reports. Robert W. Baird lowered their price objective on shares of Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. StockNews.com lowered shares of Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Barclays lowered their target price on Allegion from $130.00 to $126.00 and set an "underweight" rating for the company in a research note on Wednesday, March 26th. Morgan Stanley boosted their price objective on Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their target price on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, Allegion presently has a consensus rating of "Hold" and a consensus price target of $138.80.

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.