Contravisory Investment Management Inc. Acquires Shares of 4,064 Allegion plc (NYSE:ALLE)

Contravisory Investment Management Inc. acquired a new stake in shares of Allegion plc (NYSE:ALLE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,064 shares of the scientific and technical instruments company's stock, valued at approximately $531,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ALLE. Lord Abbett & CO. LLC boosted its holdings in Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company's stock valued at $244,063,000 after acquiring an additional 823,874 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Allegion by 397.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company's stock valued at $88,450,000 after purchasing an additional 484,995 shares during the period. International Assets Investment Management LLC bought a new position in shares of Allegion in the third quarter worth about $666,840,000. Millennium Management LLC increased its stake in Allegion by 483.1% in the 2nd quarter. Millennium Management LLC now owns 515,563 shares of the scientific and technical instruments company's stock worth $60,914,000 after buying an additional 427,146 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Allegion by 13.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company's stock valued at $277,581,000 after buying an additional 232,395 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Insider Activity

In other Allegion news, SVP Robert C. Martens sold 8,035 shares of the company's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the transaction, the senior vice president now owns 7,104 shares in the company, valued at approximately $1,029,511.68. This represents a 53.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John H. Stone acquired 7,500 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the purchase, the chief executive officer now directly owns 120,481 shares of the company's stock, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company's stock.

Allegion Stock Up 1.3 %

Shares of ALLE traded up $1.73 during trading hours on Thursday, hitting $132.66. The company had a trading volume of 552,405 shares, compared to its average volume of 694,248. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $11.53 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 2.93 and a beta of 1.11. Allegion plc has a one year low of $113.27 and a one year high of $156.10. The company's fifty day moving average price is $136.30 and its two-hundred day moving average price is $136.17.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The business had revenue of $967.10 million during the quarter, compared to analyst estimates of $970.70 million. During the same period in the prior year, the firm posted $1.94 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts forecast that Allegion plc will post 7.42 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, December 17th. Allegion's payout ratio is presently 29.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Mizuho upped their target price on shares of Allegion from $135.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Morgan Stanley assumed coverage on Allegion in a report on Monday, January 6th. They set an "equal weight" rating and a $137.00 price objective on the stock. Wells Fargo & Company decreased their target price on Allegion from $152.00 to $140.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. StockNews.com downgraded Allegion from a "buy" rating to a "hold" rating in a research report on Tuesday. Finally, Robert W. Baird raised their price target on Allegion from $145.00 to $152.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. 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, the stock currently has an average rating of "Hold" and a consensus price target of $140.83.

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.