Massachusetts Financial Services Co. MA Has $262.73 Million Stake in Allegion plc (NYSE:ALLE)

Massachusetts Financial Services Co. MA boosted its holdings in Allegion plc (NYSE:ALLE - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,010,472 shares of the scientific and technical instruments company's stock after acquiring an additional 105,840 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.31% of Allegion worth $262,728,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. acquired a new position in shares of Allegion during the third quarter valued at $205,000. FMR LLC increased its stake in Allegion by 231.9% during the 3rd quarter. FMR LLC now owns 290,466 shares of the scientific and technical instruments company's stock valued at $42,333,000 after buying an additional 202,957 shares during the period. Public Sector Pension Investment Board raised its position in shares of Allegion by 11.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,748 shares of the scientific and technical instruments company's stock worth $546,000 after buying an additional 400 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Allegion by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 3,541 shares of the scientific and technical instruments company's stock worth $516,000 after acquiring an additional 96 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in shares of Allegion by 100.7% in the third quarter. Verition Fund Management LLC now owns 11,229 shares of the scientific and technical instruments company's stock valued at $1,637,000 after acquiring an additional 5,634 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

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Insiders Place Their Bets

In other news, SVP Tracy L. Kemp sold 2,032 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the transaction, the senior vice president now directly owns 10,273 shares of the company's stock, valued at approximately $1,302,000.02. This represents a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the sale, the chief accounting officer now directly owns 4,972 shares of the company's stock, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is currently owned by company insiders.

Allegion Trading Up 5.1 %

NYSE ALLE traded up $6.03 on Wednesday, hitting $124.55. 1,348,842 shares of the company were exchanged, compared to its average volume of 805,523. 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 plc has a twelve month low of $113.27 and a twelve month high of $156.10. The firm has a market capitalization of $10.75 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. The company's 50 day moving average price is $127.92 and its 200-day moving average price is $135.14.

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

Allegion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.51 dividend. This is an increase from Allegion's previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Friday, March 14th. Allegion's dividend payout ratio is currently 29.91%.

Analyst Ratings Changes

ALLE has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Robert W. Baird decreased their target price on Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price target on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Finally, Barclays reduced their price objective on shares of Allegion from $130.00 to $126.00 and set an "underweight" rating for the company in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $137.67.

About Allegion

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.