AXQ Capital LP Makes New Investment in Allegion plc (NYSE:ALLE)

AXQ Capital LP purchased a new position in shares of Allegion plc (NYSE:ALLE - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,570 shares of the scientific and technical instruments company's stock, valued at approximately $597,000.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in Allegion during the 3rd quarter worth approximately $28,000. Millstone Evans Group LLC bought a new stake in shares of Allegion during the fourth quarter valued at approximately $28,000. Atala Financial Inc acquired a new position in shares of Allegion during the fourth quarter worth approximately $35,000. Private Trust Co. NA lifted 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 worth $42,000 after purchasing an additional 115 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its position 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 valued at $51,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ALLE shares. StockNews.com downgraded shares of Allegion from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Barclays decreased their price objective on Allegion from $134.00 to $130.00 and set an "underweight" rating for the company in a report on Wednesday, February 19th. Morgan Stanley raised 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. Wells Fargo & Company reduced 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. Finally, Robert W. Baird dropped their price target on shares of Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $138.33.

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Insiders Place Their Bets

In other Allegion news, SVP David S. Ilardi sold 789 shares of Allegion stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the completion of the transaction, the senior vice president now owns 9,625 shares of the company's stock, valued at $1,205,820. The trade was a 7.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the transaction, the senior vice president now owns 10,273 shares of the company's stock, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock valued at $406,636 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Allegion Stock Performance

Shares of Allegion stock traded down $1.18 during trading hours on Tuesday, hitting $129.41. 799,051 shares of the company's stock traded hands, compared to its average volume of 726,217. The stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 3.97 and a beta of 1.11. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. The company has a fifty day simple moving average of $129.72 and a 200-day simple moving average of $136.41.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) 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 net margin of 15.84% and a return on equity of 45.12%. Equities research analysts anticipate that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.58%. This is a positive change from Allegion's previous quarterly dividend of $0.48. The ex-dividend date is 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.