Geode Capital Management LLC Buys 41,417 Shares of Allegion plc (NYSE:ALLE)

Geode Capital Management LLC lifted its stake in Allegion plc (NYSE:ALLE - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,152,831 shares of the scientific and technical instruments company's stock after buying an additional 41,417 shares during the period. Geode Capital Management LLC owned about 2.48% of Allegion worth $280,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ALLE. Norges Bank acquired a new stake in shares of Allegion in the fourth quarter valued at $108,058,000. Lord Abbett & CO. LLC lifted its position in shares of Allegion by 96.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company's stock worth $244,063,000 after purchasing an additional 823,874 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Allegion during the fourth quarter worth approximately $65,175,000. Boston Partners increased its holdings in shares of Allegion by 11.6% in the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company's stock valued at $616,503,000 after purchasing an additional 488,390 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in Allegion by 312.4% in the 4th quarter. Allianz Asset Management GmbH now owns 574,012 shares of the scientific and technical instruments company's stock worth $75,012,000 after purchasing an additional 434,820 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

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Allegion Trading Down 3.1 %

Shares of ALLE stock traded down $3.86 on Thursday, reaching $120.79. The company had a trading volume of 297,530 shares, compared to its average volume of 803,658. The stock has a market cap of $10.42 billion, a PE ratio of 17.71, a PEG ratio of 3.97 and a beta of 1.01. The company has a 50-day moving average of $127.92 and a 200-day moving average of $135.14. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. 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 issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.75 by $0.11. The firm had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. On average, equities analysts forecast that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.69%. This is a boost from Allegion's previous quarterly dividend of $0.48. The ex-dividend date was Friday, March 14th. Allegion's payout ratio is presently 29.91%.

Wall Street Analyst Weigh In

ALLE has been the subject of several research reports. StockNews.com cut Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Morgan Stanley lifted their price objective on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Barclays cut their target price on shares of Allegion from $130.00 to $126.00 and set an "underweight" rating on the stock in a research report on Wednesday, March 26th. Robert W. Baird lowered their price target 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. Finally, 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. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, Allegion currently has a consensus rating of "Hold" and an average price target of $137.67.

Insiders Place Their Bets

In other news, Director Gregg C. Sengstack acquired 8,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was bought at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $1,001,920. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David S. Ilardi sold 789 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the completion of the sale, the senior vice president now directly owns 9,625 shares in the company, valued at approximately $1,205,820. The trade was a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock worth $406,636 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

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.