Allstate Corp Buys Shares of 2,388 Allegion plc (NYSE:ALLE)

Allstate Corp bought a new stake in Allegion plc (NYSE:ALLE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,388 shares of the scientific and technical instruments company's stock, valued at approximately $312,000.

Other hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in Allegion in the 4th quarter valued at approximately $28,000. Atala Financial Inc purchased a new stake in shares of Allegion in the fourth quarter valued at $35,000. Private Trust Co. NA boosted its stake in shares of Allegion by 56.1% during the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock valued at $42,000 after acquiring an additional 115 shares during the last quarter. Tortoise Investment Management LLC increased its position 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 worth $51,000 after purchasing an additional 170 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Allegion by 33.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock valued at $53,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Insider Buying and Selling at Allegion

In other news, SVP David S. Ilardi sold 789 shares of Allegion stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the sale, the senior vice president now owns 9,625 shares in the company, valued at $1,205,820. This trade represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the company's stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 4,972 shares of the company's stock, valued at $620,008.40. This trade represents a 7.50 % 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 valued at $406,636 over the last three months. 0.33% of the stock is owned by company insiders.

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Analysts Set New Price Targets

A number of equities research analysts have recently commented on ALLE shares. StockNews.com downgraded shares of Allegion from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Wells Fargo & Company cut their price target on Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Barclays decreased their price objective on Allegion from $130.00 to $126.00 and set an "underweight" rating on the stock in a report on Wednesday, March 26th. Robert W. Baird dropped their target price on Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Finally, Morgan Stanley raised their price target on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $137.67.

Allegion Trading Down 2.4 %

ALLE stock traded down $2.92 during trading on Monday, reaching $120.72. 1,603,986 shares of the stock traded hands, compared to its average volume of 797,220. The business's 50 day moving average price is $128.80 and its 200-day moving average price is $135.62. The firm has a market capitalization of $10.42 billion, a PE ratio of 17.70, a P/E/G ratio of 3.97 and a beta of 1.01. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.75 by $0.11. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The firm had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. As a group, sell-side analysts forecast that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

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

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.