Kayne Anderson Rudnick Investment Management LLC Raises Holdings in Allegion plc (NYSE:ALLE)

Kayne Anderson Rudnick Investment Management LLC lifted its stake in Allegion plc (NYSE:ALLE - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,897,407 shares of the scientific and technical instruments company's stock after purchasing an additional 38,377 shares during the quarter. Allegion comprises 1.2% of Kayne Anderson Rudnick Investment Management LLC's portfolio, making the stock its 29th biggest holding. Kayne Anderson Rudnick Investment Management LLC owned about 4.52% of Allegion worth $509,313,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Millstone Evans Group LLC purchased a new position in Allegion during the fourth quarter worth $28,000. Atala Financial Inc bought a new stake in shares of Allegion in the 4th quarter worth about $35,000. GeoWealth Management LLC boosted its stake in shares of Allegion by 259.3% during the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock worth $40,000 after purchasing an additional 223 shares during the period. Private Trust Co. NA grew its holdings 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 last quarter. Finally, Tortoise Investment Management LLC raised its position in 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 purchasing an additional 170 shares during the period. Institutional investors own 92.21% of the company's stock.

Insider Buying and Selling

In related news, SVP Tracy L. Kemp sold 2,032 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the transaction, the senior vice president now owns 10,273 shares in the company, valued at $1,302,000.02. The trade was a 16.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the sale, the chief accounting officer now directly owns 4,972 shares of the company's stock, valued at $620,008.40. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock valued at $406,636 over the last 90 days. Corporate insiders own 0.33% of the company's stock.

Allegion Stock Down 0.3 %

Shares of ALLE traded down $0.42 during midday trading on Wednesday, reaching $126.40. 1,466,559 shares of the stock were exchanged, compared to its average volume of 823,638. The company has a market capitalization of $10.91 billion, a P/E ratio of 18.53, a PEG ratio of 3.97 and a beta of 1.01. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10. The company's 50 day moving average is $127.08 and its two-hundred day moving average is $133.93.

Allegion (NYSE:ALLE - Get Free Report) last issued 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 company had revenue of $945.60 million for the quarter, compared to analysts' expectations of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. On average, sell-side analysts anticipate that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

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

Analyst Ratings Changes

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