Allegion plc (NYSE:ALLE) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its stake in shares of Allegion plc (NYSE:ALLE - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,601 shares of the scientific and technical instruments company's stock after selling 2,355 shares during the period. Gateway Investment Advisers LLC's holdings in Allegion were worth $2,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in Allegion during the 3rd quarter valued at $4,988,000. Renaissance Technologies LLC purchased a new stake in shares of Allegion in the second quarter valued at $27,056,000. Qsemble Capital Management LP bought a new stake in shares of Allegion in the 3rd quarter worth about $891,000. Nordea Investment Management AB boosted its stake in shares of Allegion by 4.4% during the 4th quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company's stock worth $154,643,000 after purchasing an additional 49,176 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Allegion by 4.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company's stock valued at $1,260,000 after purchasing an additional 340 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Allegion Stock Up 0.8 %

Shares of ALLE traded up $1.10 during midday trading on Friday, reaching $133.72. 592,930 shares of the stock were exchanged, compared to its average volume of 615,726. The company has a market capitalization of $11.62 billion, a P/E ratio of 20.54, a PEG ratio of 2.93 and a beta of 1.11. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. 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 $135.90 and its two-hundred day moving average is $136.41.

Allegion (NYSE:ALLE - Get Free Report) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company had revenue of $967.10 million for the quarter, compared to analysts' expectations of $970.70 million. During the same period in the prior year, the business earned $1.94 EPS. The firm's quarterly revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Allegion plc will post 7.42 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a dividend of $0.48 per share. The ex-dividend date was Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a yield of 1.44%. Allegion's dividend payout ratio is currently 29.49%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ALLE. Mizuho raised their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Barclays dropped their price objective on Allegion from $137.00 to $134.00 and set an "underweight" rating for the company in a report on Wednesday, January 8th. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a research note on Tuesday. Wells Fargo & Company lowered their target price on shares of Allegion from $152.00 to $140.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Finally, Robert W. Baird raised their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $140.83.

Insider Buying and Selling at Allegion

In other news, CEO John H. Stone bought 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,481 shares of the company's stock, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert C. Martens sold 8,035 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the sale, the senior vice president now owns 7,104 shares of the company's stock, valued at approximately $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

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.