Rhumbline Advisers Cuts Stock Position in Allegion plc (NYSE:ALLE)

Rhumbline Advisers cut its stake in Allegion plc (NYSE:ALLE - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 167,256 shares of the scientific and technical instruments company's stock after selling 4,340 shares during the quarter. Rhumbline Advisers owned about 0.19% of Allegion worth $21,857,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. TD Private Client Wealth LLC grew its position in shares of Allegion by 0.4% in the third quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company's stock valued at $2,871,000 after purchasing an additional 77 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in Allegion by 2.9% during the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company's stock worth $425,000 after buying an additional 82 shares in the last quarter. Heritage Family Offices LLP grew its position in Allegion by 3.2% during the fourth quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company's stock worth $346,000 after buying an additional 82 shares in the last quarter. Cromwell Holdings LLC grew its position in Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company's stock worth $34,000 after buying an additional 92 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in Allegion by 2.8% during the third quarter. Captrust Financial Advisors now owns 3,541 shares of the scientific and technical instruments company's stock worth $516,000 after buying an additional 96 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allegion

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the transaction, the chief accounting officer now owns 4,972 shares of the company's stock, valued at $620,008.40. This represents a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John H. Stone purchased 7,500 shares of the stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Allegion Trading Up 0.0 %

Shares of NYSE ALLE traded up $0.05 during midday trading on Friday, reaching $127.16. The company had a trading volume of 871,149 shares, compared to its average volume of 890,566. Allegion plc has a one year low of $113.27 and a one year high of $156.10. The company has a quick ratio of 1.29, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The firm's fifty day moving average price is $131.32 and its 200-day moving average price is $137.24. The stock has a market cap of $10.97 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 3.99 and a beta of 1.11.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The company had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. On average, equities research analysts anticipate that Allegion plc will post 7.7 earnings per share for the current year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is a positive change from Allegion's previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 1.60%. Allegion's dividend payout ratio is presently 28.15%.

Wall Street Analyst Weigh In

Several research firms recently commented on ALLE. StockNews.com cut Allegion from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Wells Fargo & Company reduced their target price on Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a research report on Wednesday. Morgan Stanley boosted their target price on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Robert W. Baird dropped their price target on Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a research note on Wednesday. Finally, Barclays dropped their price target on Allegion from $134.00 to $130.00 and set an "underweight" rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $138.33.

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.