Alliancebernstein L.P. Purchases 15,790 Shares of Allegion plc (NYSE:ALLE)

Alliancebernstein L.P. boosted its holdings in Allegion plc (NYSE:ALLE - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 295,102 shares of the scientific and technical instruments company's stock after acquiring an additional 15,790 shares during the period. Alliancebernstein L.P. owned 0.34% of Allegion worth $38,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ALLE. TD Private Client Wealth LLC grew its holdings in shares of Allegion by 0.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company's stock worth $2,871,000 after purchasing an additional 77 shares in the last quarter. Douglass Winthrop Advisors LLC grew its holdings in shares of Allegion by 0.4% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company's stock worth $2,911,000 after purchasing an additional 80 shares in the last quarter. Heritage Family Offices LLP grew its holdings in shares of Allegion by 3.2% during the 4th quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company's stock worth $346,000 after purchasing an additional 82 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Allegion by 23.2% during the 4th quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company's stock worth $59,000 after purchasing an additional 85 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Allegion by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 3,541 shares of the scientific and technical instruments company's stock worth $516,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Remove Ads

Analyst Ratings Changes

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

Allegion Trading Down 3.2 %

Shares of ALLE traded down $4.01 during mid-day trading on Thursday, reaching $120.64. 245,757 shares of the company were exchanged, compared to its average volume of 803,439. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The stock has a market capitalization of $10.41 billion, a PE ratio of 17.73, a PEG ratio of 3.97 and a beta of 1.01. The business has a 50 day simple moving average of $127.92 and a two-hundred day simple moving average of $135.14.

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 for the quarter, topping analysts' consensus estimates of $1.75 by $0.11. The business had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. On average, analysts predict that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.51 per share. This is an increase from Allegion's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 1.69%. Allegion's payout ratio is currently 29.91%.

Insider Activity

In related news, CAO Nickolas A. Musial sold 403 shares of Allegion 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 transaction, the chief accounting officer now owns 4,972 shares of the company's stock, valued at $620,008.40. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregg C. Sengstack bought 8,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were bought at an average cost of $125.24 per share, for a total transaction of $1,001,920.00. Following the transaction, the director now owns 8,000 shares of the company's stock, valued at $1,001,920. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 3,224 shares of company stock worth $406,636 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Allegion Company 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.