APG Asset Management N.V. Sells 2,967,625 Shares of Allegion plc (NYSE:ALLE)

APG Asset Management N.V. lowered its position in Allegion plc (NYSE:ALLE - Free Report) by 81.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 667,060 shares of the scientific and technical instruments company's stock after selling 2,967,625 shares during the period. APG Asset Management N.V. owned about 0.77% of Allegion worth $84,183,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Millstone Evans Group LLC bought a new position in Allegion in the fourth quarter valued at approximately $28,000. Atala Financial Inc acquired a new stake in shares of Allegion during the fourth quarter worth $35,000. Private Trust Co. NA lifted its position 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 valued at $42,000 after acquiring an additional 115 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in Allegion by 78.0% in 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 during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Allegion by 33.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock worth $53,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Transactions at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of the firm's stock in a transaction dated 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 sale, the chief accounting officer now owns 4,972 shares in the company, valued at approximately $620,008.40. This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregg C. Sengstack purchased 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was bought at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the purchase, the director now owns 8,000 shares in the company, valued at $1,001,920. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

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

Allegion Stock Up 2.4 %

ALLE traded up $2.94 during trading on Friday, reaching $125.02. 1,115,059 shares of the stock were exchanged, compared to its average volume of 811,859. 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's 50 day moving average price is $127.72 and its two-hundred day moving average price is $134.87. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The stock has a market cap of $10.79 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01.

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. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The company had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Equities analysts expect that Allegion plc will post 7.77 EPS for the current year.

Allegion Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.63%. Allegion's 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.