Handelsbanken Fonder AB Purchases 3,100 Shares of Allegion plc (NYSE:ALLE)

Handelsbanken Fonder AB grew its stake in shares of Allegion plc (NYSE:ALLE - Free Report) by 15.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,800 shares of the scientific and technical instruments company's stock after buying an additional 3,100 shares during the quarter. Handelsbanken Fonder AB's holdings in Allegion were worth $3,110,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ALLE. Brooklyn Investment Group purchased a new position in shares of Allegion in the 3rd quarter worth about $28,000. Concord Wealth Partners bought a new stake in Allegion in the 3rd quarter worth approximately $29,000. Global Retirement Partners LLC lifted its holdings in shares of Allegion by 207.7% in the 4th quarter. Global Retirement Partners LLC now owns 440 shares of the scientific and technical instruments company's stock worth $58,000 after acquiring an additional 297 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in Allegion during the third quarter valued at about $71,000. Finally, Blue Trust Inc. boosted its holdings in Allegion by 44.9% during the 3rd quarter. Blue Trust Inc. now owns 500 shares of the scientific and technical instruments company's stock valued at $73,000 after acquiring an additional 155 shares during the period. 92.21% of the stock is owned by institutional investors.

Allegion Stock Up 1.6 %

NYSE:ALLE traded up $2.08 on Tuesday, reaching $130.01. 968,082 shares of the stock traded hands, compared to its average volume of 892,530. The company's fifty day simple moving average is $130.90 and its 200 day simple moving average is $137.37. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. 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 company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings data 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. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The company had revenue of $945.60 million for the quarter, compared to analysts' expectations of $938.91 million. Equities analysts predict that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Allegion's previous quarterly dividend of $0.48. Allegion's dividend payout ratio is 28.15%.

Insider Transactions at Allegion

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the company'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 completion of the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John H. Stone bought 7,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the purchase, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. This 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.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Barclays dropped their price target on shares of Allegion from $134.00 to $130.00 and set an "underweight" rating for the company in a research report on Wednesday, February 19th. Robert W. Baird reduced their target price on Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Morgan Stanley raised their price objective on Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their price target on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company 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.