LGT Group Foundation Sells 2,170 Shares of Allegion plc (NYSE:ALLE)

LGT Group Foundation cut its stake in shares of Allegion plc (NYSE:ALLE - Free Report) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,109 shares of the scientific and technical instruments company's stock after selling 2,170 shares during the period. LGT Group Foundation's holdings in Allegion were worth $3,543,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ALLE. Wealth Enhancement Advisory Services LLC lifted its stake in Allegion by 22.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,076 shares of the scientific and technical instruments company's stock valued at $594,000 after acquiring an additional 757 shares during the last quarter. Stephens Inc. AR acquired a new stake in Allegion in the 3rd quarter valued at about $225,000. Janney Montgomery Scott LLC lifted its stake in Allegion by 3.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 68,046 shares of the scientific and technical instruments company's stock valued at $9,917,000 after purchasing an additional 2,318 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Allegion by 83.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 26,952 shares of the scientific and technical instruments company's stock worth $3,928,000 after buying an additional 12,226 shares during the last quarter. Finally, Ground Swell Capital LLC bought a new stake in Allegion in the third quarter valued at approximately $221,000. 92.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ALLE shares. Barclays reduced their target price on Allegion from $134.00 to $130.00 and set an "underweight" rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their price objective 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. Morgan Stanley increased 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. Robert W. Baird reduced 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. Finally, StockNews.com raised shares of Allegion from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $138.33.

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Allegion Stock Performance

NYSE:ALLE traded up $4.01 during mid-day trading on Friday, reaching $131.36. 942,603 shares of the company's stock were exchanged, compared to its average volume of 901,361. Allegion plc has a one year low of $113.27 and a one year high of $156.10. 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 business's fifty day simple moving average is $130.03 and its two-hundred day simple moving average is $137.11. The firm has a market capitalization of $11.33 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 3.97 and a beta of 1.10.

Allegion (NYSE:ALLE - Get Free Report) last announced its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to analysts' expectations of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. Analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. 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 1.55%. The ex-dividend date of this dividend is Friday, March 14th. Allegion's dividend payout ratio is 29.91%.

Insider Buying and Selling

In other news, Director Gregg C. Sengstack purchased 8,000 shares of Allegion stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the transaction, the director now owns 8,000 shares of the company's stock, valued at approximately $1,001,920. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP David S. Ilardi sold 789 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the transaction, the senior vice president now owns 9,625 shares of the company's stock, valued at approximately $1,205,820. This represents a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is 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.