Headlands Technologies LLC Takes $316,000 Position in Allegion plc (NYSE:ALLE)

Headlands Technologies LLC acquired a new stake in Allegion plc (NYSE:ALLE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 2,417 shares of the scientific and technical instruments company's stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALLE. Millstone Evans Group LLC bought a new stake in shares of Allegion during the 4th quarter valued at $28,000. Atala Financial Inc bought a new stake in Allegion in the fourth quarter valued at about $35,000. Private Trust Co. NA lifted its stake in Allegion by 56.1% in the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock valued at $42,000 after buying an additional 115 shares during the period. Tortoise Investment Management LLC boosted its holdings in Allegion by 78.0% during the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company's stock worth $51,000 after buying an additional 170 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Allegion by 33.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock worth $53,000 after buying an additional 101 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Performance

NYSE:ALLE traded down $5.22 during mid-day trading on Thursday, hitting $119.43. 364,166 shares of the stock were exchanged, compared to its average volume of 803,919. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The firm's 50-day simple moving average is $127.92 and its 200 day simple moving average is $135.14. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01.

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Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.11. The company 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%. As a group, equities analysts anticipate that Allegion plc will post 7.77 EPS for the current fiscal 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 dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Allegion's previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.71%. Allegion's dividend payout ratio is presently 29.91%.

Insider Buying and Selling at Allegion

In related news, Director Gregg C. Sengstack purchased 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were bought at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the acquisition, the director now owns 8,000 shares of the company's stock, valued at $1,001,920. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the sale, the chief accounting officer now directly owns 4,972 shares in the company, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Morgan Stanley upped their price objective on shares of Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Barclays reduced their target price on Allegion from $130.00 to $126.00 and set an "underweight" rating on the stock in a report on Wednesday, March 26th. Robert W. Baird lowered their price target on Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $137.67.

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.