Brandywine Global Investment Management LLC Sells 2,554 Shares of Allegion plc (NYSE:ALLE)

Brandywine Global Investment Management LLC lowered its holdings in shares of Allegion plc (NYSE:ALLE - Free Report) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,668 shares of the scientific and technical instruments company's stock after selling 2,554 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.06% of Allegion worth $6,752,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Millstone Evans Group LLC purchased a new stake in shares of Allegion in the fourth quarter worth $28,000. Atala Financial Inc bought a new position in Allegion in the 4th quarter worth about $35,000. Private Trust Co. NA grew its position in 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 valued at $42,000 after purchasing an additional 115 shares during the last quarter. Tortoise Investment Management LLC increased 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 valued at $51,000 after purchasing an additional 170 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Allegion by 33.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock worth $53,000 after buying an additional 101 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

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Allegion Stock Performance

Allegion stock traded down $3.68 during mid-day trading on Friday, reaching $123.53. 2,382,748 shares of the stock traded hands, compared to its average volume of 793,993. The stock has a market capitalization of $10.66 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. 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 business's 50-day moving average is $129.10 and its 200-day moving average is $135.78. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10.

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. 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 the consensus estimate of $938.91 million. As a group, sell-side analysts predict that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.65%. This is a positive change from Allegion's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, March 14th. Allegion's dividend payout ratio is 29.91%.

Insider Buying and Selling

In related news, CAO Nickolas A. Musial sold 403 shares of the 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 completion of the sale, the chief accounting officer now directly owns 4,972 shares of the company's stock, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Tracy L. Kemp sold 2,032 shares of Allegion 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 transaction, the senior vice president now directly owns 10,273 shares in the company, valued at $1,302,000.02. This represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.