Metis Global Partners LLC Reduces Position in Allegion plc (NYSE:ALLE)

Metis Global Partners LLC trimmed its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 39.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,769 shares of the scientific and technical instruments company's stock after selling 3,693 shares during the quarter. Metis Global Partners LLC's holdings in Allegion were worth $754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Allegion in the 3rd quarter worth $28,000. Private Trust Co. NA raised its holdings in Allegion by 56.1% in 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 during the period. Global Retirement Partners LLC raised its holdings in Allegion by 207.7% in the 4th quarter. Global Retirement Partners LLC now owns 440 shares of the scientific and technical instruments company's stock worth $58,000 after purchasing an additional 297 shares during the period. IFP Advisors Inc raised its holdings in Allegion by 23.2% in the 4th quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company's stock worth $59,000 after purchasing an additional 85 shares during the period. Finally, BankPlus Trust Department bought a new position in Allegion in the 4th quarter worth $65,000. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ALLE. StockNews.com cut Allegion from a "buy" rating to a "hold" rating in a report on Friday. Barclays decreased their target price on Allegion from $134.00 to $130.00 and set an "underweight" rating on the stock in a report on Wednesday, February 19th. Robert W. Baird decreased their price target on Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company decreased their price target on Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Finally, Morgan Stanley raised their price target on Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, Allegion currently has a consensus rating of "Hold" and a consensus price target of $138.33.

Remove Ads

Insider Activity

In related news, Director Gregg C. Sengstack purchased 8,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 approximately $1,001,920. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the transaction, the chief accounting officer now owns 4,972 shares of the company's stock, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Allegion Price Performance

Shares of Allegion stock traded up $4.01 during trading on Friday, reaching $131.36. 942,682 shares of the stock traded hands, compared to its average volume of 901,365. The company has a market capitalization of $11.33 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 3.97 and a beta of 1.10. The business has a fifty day simple moving average of $130.02 and a two-hundred day simple moving average of $137.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. 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 issued its quarterly earnings data 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 firm had revenue of $945.60 million during 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%. Sell-side analysts expect that Allegion plc will post 7.77 EPS for the current 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. This is a positive change from Allegion's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.55%. Allegion's dividend payout ratio (DPR) is presently 29.91%.

Allegion Company 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.