Wells Fargo & Company MN Reduces Stock Position in Allegion plc (NYSE:ALLE)

Wells Fargo & Company MN lowered its holdings in Allegion plc (NYSE:ALLE - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 678,497 shares of the scientific and technical instruments company's stock after selling 39,075 shares during the period. Wells Fargo & Company MN owned approximately 0.78% of Allegion worth $88,666,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ALLE. Millstone Evans Group LLC bought a new stake in Allegion during the 4th quarter valued at $28,000. Atala Financial Inc purchased a new stake in Allegion during the 4th quarter worth about $35,000. Private Trust Co. NA boosted its stake in Allegion by 56.1% in the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock worth $42,000 after purchasing an additional 115 shares during the period. Tortoise Investment Management LLC grew its holdings in Allegion by 78.0% during the 4th quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company's stock valued at $51,000 after buying an additional 170 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Allegion by 33.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock valued at $53,000 after buying an additional 101 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ALLE shares. 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, February 19th. Barclays cut their target price 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. Robert W. Baird decreased their price objective on Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company cut their target price on Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 19th. 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 six have assigned a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $137.67.

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Allegion Trading Up 2.4 %

Shares of NYSE:ALLE traded up $2.94 during midday trading on Friday, hitting $125.02. 1,115,059 shares of the stock traded hands, compared to its average volume of 811,859. 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 stock has a market capitalization of $10.79 billion, a PE ratio of 18.33, a P/E/G ratio of 3.97 and a beta of 1.01. Allegion plc has a one year low of $113.27 and a one year high of $156.10. The business's 50 day moving average is $127.72 and its two-hundred day moving average is $134.87.

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

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 1.63%. The ex-dividend date is Friday, June 13th. Allegion's payout ratio is 29.91%.

Insider Activity at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of the company's stock in a transaction dated 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 $620,008.40. This represents a 7.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David S. Ilardi sold 789 shares of Allegion 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 directly owns 9,625 shares of the company's stock, valued at approximately $1,205,820. This trade represents a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,224 shares of company stock worth $406,636 over the last 90 days. 0.33% of the stock is owned by company insiders.

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.