Legal & General Group Plc Trims Holdings in Allegion plc (NYSE:ALLE)

Legal & General Group Plc lessened its position in Allegion plc (NYSE:ALLE - Free Report) by 20.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 513,999 shares of the scientific and technical instruments company's stock after selling 133,423 shares during the quarter. Legal & General Group Plc owned approximately 0.59% of Allegion worth $67,169,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ALLE. Public Employees Retirement System of Ohio acquired a new stake in Allegion in the third quarter valued at approximately $4,988,000. Crew Capital Management Ltd. raised its holdings in shares of Allegion by 224.9% in the 4th quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company's stock valued at $759,000 after purchasing an additional 4,022 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Allegion by 4.5% during 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 during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Allegion by 73.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 18,761 shares of the scientific and technical instruments company's stock worth $2,452,000 after purchasing an additional 7,950 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Allegion by 4.4% in the fourth quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company's stock valued at $154,643,000 after buying an additional 49,176 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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Allegion Stock Performance

NYSE:ALLE traded up $0.67 during midday trading on Tuesday, reaching $126.96. The stock had a trading volume of 753,390 shares, compared to its average volume of 812,252. The stock has a market cap of $10.96 billion, a P/E ratio of 18.62, a P/E/G ratio of 3.97 and a beta of 1.01. The company has a quick ratio of 1.43, a current ratio of 2.04 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. The firm has a fifty day simple moving average of $127.66 and a two-hundred day simple moving average of $134.68.

Allegion (NYSE:ALLE - Get Free Report) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.11. The business had revenue of $945.60 million for 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 expect that Allegion plc will post 7.77 EPS for the current year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 1.61%. Allegion's payout ratio is currently 29.91%.

Analysts Set New Price Targets

A number of analysts have issued reports on ALLE shares. Morgan Stanley lifted their price target on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Barclays lowered their price target on Allegion from $130.00 to $126.00 and set an "underweight" rating for the company in a report on Wednesday, March 26th. Robert W. Baird lowered their target price on shares of Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company reduced 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 report on Wednesday, February 19th. Finally, StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a report on Friday, March 7th. One equities 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 company has a consensus rating of "Hold" and a consensus target price of $137.67.

Insider Transactions at Allegion

In other news, Director Gregg C. Sengstack purchased 8,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was acquired 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 directly owns 8,000 shares in the company, valued at $1,001,920. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, SVP Tracy L. Kemp sold 2,032 shares of Allegion stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following the transaction, the senior vice president now directly owns 10,273 shares of the company's stock, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,224 shares of company stock valued at $406,636 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Allegion 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.