2,157 Shares in Allegion plc (NYSE:ALLE) Acquired by Merit Financial Group LLC

Merit Financial Group LLC acquired a new stake in Allegion plc (NYSE:ALLE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,157 shares of the scientific and technical instruments company's stock, valued at approximately $282,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new position in shares of Allegion in the 2nd quarter valued at about $842,000. Sei Investments Co. lifted its position in Allegion by 13.0% in the second quarter. Sei Investments Co. now owns 32,225 shares of the scientific and technical instruments company's stock valued at $3,807,000 after acquiring an additional 3,707 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Allegion by 5.9% in the second quarter. ProShare Advisors LLC now owns 15,871 shares of the scientific and technical instruments company's stock valued at $1,875,000 after buying an additional 885 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Allegion by 64.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,348 shares of the scientific and technical instruments company's stock valued at $396,000 after purchasing an additional 1,312 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Allegion by 56.2% during the 2nd quarter. Bank of Montreal Can now owns 160,446 shares of the scientific and technical instruments company's stock worth $18,960,000 after acquiring an additional 57,744 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Stock Down 0.5 %

Shares of ALLE stock traded down $0.69 during trading on Friday, hitting $132.56. 603,817 shares of the company were exchanged, compared to its average volume of 535,662. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 3.26 and a beta of 1.11. The business's 50-day simple moving average is $135.09 and its 200 day simple moving average is $137.18.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.18. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The business had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. During the same period last year, the business earned $1.94 EPS. The firm's revenue was up 5.4% compared to the same quarter last year. As a group, analysts forecast that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.45%. Allegion's dividend payout ratio is 29.49%.

Wall Street Analysts Forecast Growth

ALLE has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of Allegion from $137.00 to $134.00 and set an "underweight" rating for the company in a research note on Wednesday, January 8th. Robert W. Baird lifted their price target on shares of Allegion from $145.00 to $152.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Mizuho increased their target price on shares of Allegion from $135.00 to $150.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Morgan Stanley assumed coverage on Allegion in a research note on Monday, January 6th. They set an "equal weight" rating and a $137.00 price objective on the stock. Finally, StockNews.com lowered shares of Allegion from a "buy" rating to a "hold" rating in a report on Thursday. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $140.83.

Insiders Place Their Bets

In other Allegion news, CEO John H. Stone purchased 7,500 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares of the company's stock, valued at $16,951,676.70. This represents a 6.64 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company's stock.

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.