Entropy Technologies LP Takes Position in Allegion plc (NYSE:ALLE)

Entropy Technologies LP bought a new position in Allegion plc (NYSE:ALLE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,567 shares of the scientific and technical instruments company's stock, valued at approximately $597,000.

Other hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in Allegion during the 3rd quarter valued at $4,988,000. Qsemble Capital Management LP bought a new position in Allegion in the 3rd quarter worth about $891,000. Nordea Investment Management AB boosted its stake in Allegion by 4.4% in the 4th quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company's stock worth $154,643,000 after purchasing an additional 49,176 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Allegion by 4.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company's stock worth $26,724,000 after purchasing an additional 8,806 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Allegion by 4.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company's stock worth $1,260,000 after purchasing an additional 340 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALLE has been the topic of several research analyst reports. StockNews.com cut shares of Allegion from a "buy" rating to a "hold" rating in a research note on Friday. Barclays lowered their target price on shares of Allegion from $137.00 to $134.00 and set an "underweight" rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley initiated coverage on shares of Allegion in a research note on Monday, January 6th. They set an "equal weight" rating and a $137.00 target price on the stock. Robert W. Baird upped their target price on shares of Allegion from $145.00 to $152.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company lowered their target price on shares of Allegion from $152.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $140.83.

Insider Buying and Selling

In other news, CEO John H. Stone bought 7,500 shares of Allegion stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares of the company's stock, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by insiders.

Allegion Stock Performance

Shares of NYSE ALLE traded up $0.36 during midday trading on Friday, hitting $133.51. 1,354,576 shares of the company's stock traded hands, compared to its average volume of 708,372. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10. The stock has a market capitalization of $11.61 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 3.19 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The firm has a fifty day moving average of $132.30 and a 200 day moving average of $137.40.

Allegion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.53%. This is a positive change from Allegion's previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. Allegion's dividend payout ratio is currently 31.34%.

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.