Charles Schwab Investment Management Inc. Decreases Stake in Allegion plc (NYSE:ALLE)

Charles Schwab Investment Management Inc. cut its holdings in shares of Allegion plc (NYSE:ALLE - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 735,291 shares of the scientific and technical instruments company's stock after selling 2,074 shares during the period. Charles Schwab Investment Management Inc. owned 0.85% of Allegion worth $96,088,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Allegion by 2.4% in the third quarter. Principal Financial Group Inc. now owns 122,481 shares of the scientific and technical instruments company's stock worth $17,850,000 after purchasing an additional 2,878 shares in the last quarter. Portside Wealth Group LLC grew its position in shares of Allegion by 6.9% in the 3rd quarter. Portside Wealth Group LLC now owns 2,694 shares of the scientific and technical instruments company's stock worth $393,000 after buying an additional 174 shares during the last quarter. Assetmark Inc. grew its position in shares of Allegion by 8.9% in the 3rd quarter. Assetmark Inc. now owns 9,112 shares of the scientific and technical instruments company's stock worth $1,328,000 after buying an additional 743 shares during the last quarter. Covestor Ltd raised its stake in shares of Allegion by 29.1% during the 3rd quarter. Covestor Ltd now owns 617 shares of the scientific and technical instruments company's stock worth $90,000 after acquiring an additional 139 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Allegion by 55.1% during the third quarter. Los Angeles Capital Management LLC now owns 209,917 shares of the scientific and technical instruments company's stock valued at $30,593,000 after acquiring an additional 74,577 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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Allegion Stock Performance

Shares of ALLE stock traded up $1.13 during mid-day trading on Monday, reaching $132.43. The stock had a trading volume of 1,117,613 shares, compared to its average volume of 711,462. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 3.97 and a beta of 1.11. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The business's fifty day moving average is $130.02 and its 200-day moving average is $137.15.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $938.91 million. On average, research analysts forecast that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Allegion's previous quarterly dividend of $0.48. Allegion's dividend payout ratio is currently 29.91%.

Insider Activity at Allegion

In other Allegion news, SVP David S. Ilardi sold 789 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the transaction, the senior vice president now owns 9,625 shares in the company, valued at approximately $1,205,820. This represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregg C. Sengstack bought 8,000 shares of Allegion stock in a transaction dated Wednesday, February 19th. The shares were acquired at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the purchase, the director now owns 8,000 shares in the company, valued at approximately $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays reduced their price target on Allegion from $134.00 to $130.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley upped their target price on Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. StockNews.com downgraded Allegion from a "buy" rating to a "hold" rating in a report on Friday. Wells Fargo & Company cut their price objective on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Finally, Robert W. Baird decreased their price objective on shares of Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a research 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $138.33.

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.