Arrowstreet Capital Limited Partnership Invests $6.76 Million in Allegion plc (NYSE:ALLE)

Arrowstreet Capital Limited Partnership bought a new position in shares of Allegion plc (NYSE:ALLE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 51,757 shares of the scientific and technical instruments company's stock, valued at approximately $6,764,000. Arrowstreet Capital Limited Partnership owned approximately 0.06% of Allegion as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in Allegion during the fourth quarter worth approximately $28,000. Atala Financial Inc acquired a new position in shares of Allegion in the 4th quarter valued at $35,000. Private Trust Co. NA increased its holdings in shares of 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 during the period. Tortoise Investment Management LLC boosted its stake 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 during the period. Finally, Smartleaf Asset Management LLC grew its position 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 during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Allegion Price Performance

Shares of ALLE traded up $2.94 during mid-day trading on Friday, hitting $125.02. The company's stock had a trading volume of 1,115,059 shares, compared to its average volume of 811,859. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The firm has a market capitalization of $10.79 billion, a P/E ratio of 18.33, a P/E/G ratio of 3.97 and a beta of 1.01. The firm has a 50-day simple moving average of $127.72 and a 200 day simple moving average of $134.87.

Allegion (NYSE:ALLE - Get Free Report) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. Analysts predict that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued 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 yield of 1.63%. Allegion's dividend payout ratio (DPR) is presently 29.91%.

Insider Activity

In other news, SVP Tracy L. Kemp sold 2,032 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the transaction, the senior vice president now owns 10,273 shares in the company, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Nickolas A. Musial sold 403 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,224 shares of company stock worth $406,636. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

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

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.