Intech Investment Management LLC Grows Stake in Allegion plc (NYSE:ALLE)

Intech Investment Management LLC grew its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 782.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,954 shares of the scientific and technical instruments company's stock after buying an additional 77,099 shares during the period. Intech Investment Management LLC owned 0.10% of Allegion worth $11,363,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Allegion during the 3rd quarter worth about $28,000. Atala Financial Inc purchased a new stake in Allegion during the 4th quarter worth about $35,000. Private Trust Co. NA lifted its holdings in Allegion by 56.1% during the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock worth $42,000 after purchasing an additional 115 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in Allegion by 78.0% during the 4th quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company's stock worth $51,000 after purchasing an additional 170 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in 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 purchasing an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

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Allegion Price Performance

Shares of Allegion stock traded down $0.55 during trading on Friday, hitting $127.17. 2,502,927 shares of the stock traded hands, compared to its average volume of 723,479. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The stock has a market cap of $10.97 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 3.97 and a beta of 1.11. The firm's fifty day moving average is $129.67 and its 200-day moving average is $136.46. 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 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. The firm had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Research analysts expect 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. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Allegion's previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.60%. Allegion's dividend payout ratio is 29.91%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ALLE shares. Barclays dropped their price objective on Allegion from $134.00 to $130.00 and set an "underweight" rating on the stock in a report on Wednesday, February 19th. Morgan Stanley increased their price objective on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Wells Fargo & Company decreased their target price on Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Robert W. Baird decreased their target price on Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, Allegion has a consensus rating of "Hold" and a consensus price target of $138.33.

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.