Bank of Montreal Can Acquires 11,367 Shares of Allegion plc (NYSE:ALLE)

Bank of Montreal Can raised its stake in Allegion plc (NYSE:ALLE - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,305 shares of the scientific and technical instruments company's stock after buying an additional 11,367 shares during the period. Bank of Montreal Can owned approximately 0.12% of Allegion worth $13,892,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ALLE. Millstone Evans Group LLC acquired a new stake in shares of Allegion in the fourth quarter valued at approximately $28,000. Atala Financial Inc purchased a new position in Allegion during the fourth quarter worth $35,000. Private Trust Co. NA raised its holdings in shares of Allegion by 56.1% in the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock worth $42,000 after acquiring an additional 115 shares during the last quarter. Tortoise Investment Management LLC raised its holdings in shares of Allegion by 78.0% in the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company's stock worth $51,000 after acquiring an additional 170 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Allegion by 33.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock valued at $53,000 after acquiring an additional 101 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now owns 4,972 shares in the company, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregg C. Sengstack acquired 8,000 shares of Allegion stock in a transaction that occurred on Wednesday, February 19th. The shares were purchased at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the transaction, the director now owns 8,000 shares of the company's stock, valued at approximately $1,001,920. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 3,224 shares of company stock worth $406,636. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

ALLE has been the subject of several analyst reports. Robert W. Baird cut their price target on Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Barclays dropped their price objective on shares of Allegion from $130.00 to $126.00 and set an "underweight" rating for the company in a research note on Wednesday, March 26th. StockNews.com lowered shares of Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Morgan Stanley upped 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. Finally, Wells Fargo & Company dropped 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 report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $137.67.

Allegion Price Performance

Shares of NYSE ALLE traded up $0.67 during mid-day trading on Tuesday, reaching $126.96. 753,390 shares of the company traded hands, compared to its average volume of 813,611. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The firm has a market cap of $10.96 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. The stock has a fifty day simple moving average of $127.62 and a 200-day simple moving average of $134.63. 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 (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to analysts' expectations of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Equities research analysts anticipate that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 1.61%. Allegion's dividend payout ratio (DPR) is 29.91%.

About Allegion

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.