Boston Partners Increases Stock Position in Allegion plc (NYSE:ALLE)

Boston Partners boosted its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,716,756 shares of the scientific and technical instruments company's stock after purchasing an additional 488,390 shares during the period. Allegion makes up 0.8% of Boston Partners' holdings, making the stock its 28th biggest holding. Boston Partners owned 5.43% of Allegion worth $616,503,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ALLE. Brooklyn Investment Group acquired a new stake in Allegion during the third quarter worth $28,000. Atala Financial Inc acquired a new position in shares of Allegion in the 4th quarter worth approximately $35,000. Private Trust Co. NA boosted its position in shares of Allegion by 56.1% during 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 during the period. Tortoise Investment Management LLC increased its holdings 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 last quarter. Finally, Smartleaf Asset Management LLC lifted its stake 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 acquiring an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

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Insider Transactions at Allegion

In other news, SVP Tracy L. Kemp sold 2,032 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 10,273 shares of the company's stock, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock worth $406,636 over the last 90 days. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Morgan Stanley boosted their price target on shares of Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Barclays dropped their price target on shares of Allegion from $134.00 to $130.00 and set an "underweight" rating for the company in a research note on Wednesday, February 19th. Robert W. Baird lowered 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. StockNews.com lowered shares of Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company lowered their price target on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, Allegion has a consensus rating of "Hold" and a consensus target price of $138.33.

Allegion Stock Performance

ALLE traded up $0.83 during trading on Wednesday, hitting $128.81. 1,254,962 shares of the stock were exchanged, compared to its average volume of 717,237. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $11.12 billion, a P/E ratio of 18.89, a PEG ratio of 3.97 and a beta of 1.11. The stock has a fifty day moving average price of $129.66 and a two-hundred day moving average price of $136.66.

Allegion (NYSE:ALLE - Get Free Report) last announced its earnings results 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. 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%. As a group, sell-side analysts predict that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.58%. This is a positive change from Allegion's previous quarterly dividend of $0.48. Allegion's payout ratio is presently 29.91%.

Allegion 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.