Empowered Funds LLC Acquires New Stake in Allegion plc (NYSE:ALLE)

Empowered Funds LLC acquired a new position in Allegion plc (NYSE:ALLE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,022 shares of the scientific and technical instruments company's stock, valued at approximately $656,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Allegion by 1.2% in the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company's stock worth $589,659,000 after purchasing an additional 49,929 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Allegion by 1.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company's stock valued at $479,577,000 after acquiring an additional 39,905 shares during the period. Geode Capital Management LLC boosted its holdings in Allegion by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company's stock valued at $306,699,000 after acquiring an additional 8,023 shares during the period. Massachusetts Financial Services Co. MA boosted 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 acquiring an additional 232,395 shares during the period. Finally, 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. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Allegion

In related news, CEO John H. Stone acquired 7,500 shares of Allegion stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Nickolas A. Musial sold 403 shares of the firm'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 directly owns 4,972 shares of the company's stock, valued at approximately $620,008.40. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

Allegion Trading Up 0.0 %

ALLE traded up $0.05 during midday trading on Friday, reaching $127.16. 870,301 shares of the company's stock traded hands, compared to its average volume of 890,359. The firm has a fifty day moving average of $131.32 and a two-hundred day moving average of $137.24. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 3.99 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.29. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10.

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 (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The firm had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. On average, equities analysts anticipate that Allegion plc will post 7.7 earnings per share for the current fiscal year.

Allegion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 1.60%. This is a positive change from Allegion's previous quarterly dividend of $0.48. Allegion's dividend payout ratio is currently 28.15%.

Wall Street Analysts Forecast Growth

ALLE has been the subject of several analyst reports. Robert W. Baird dropped their target price on Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a report on Wednesday. StockNews.com cut Allegion from a "buy" rating to a "hold" rating in a report on Friday, February 14th. Morgan Stanley increased their target price on Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a report on Wednesday. Wells Fargo & Company dropped their target price on Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, Barclays dropped their target price on Allegion from $134.00 to $130.00 and set an "underweight" rating for the company in a report on Wednesday. One 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 a consensus 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.