Mirae Asset Global Investments Co. Ltd. Buys 2,525 Shares of Allegion plc (NYSE:ALLE)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Allegion plc (NYSE:ALLE - Free Report) by 31.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,525 shares of the scientific and technical instruments company's stock after purchasing an additional 2,525 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Allegion were worth $1,387,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. McClarren Financial Advisors Inc. grew its holdings in shares of Allegion by 61.0% during the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company's stock valued at $27,000 after buying an additional 72 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Allegion during the third quarter valued at approximately $28,000. Concord Wealth Partners purchased a new stake in Allegion in the third quarter worth approximately $29,000. Cromwell Holdings LLC boosted its holdings in Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company's stock worth $34,000 after purchasing an additional 92 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Allegion by 66.2% in the third quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company's stock worth $47,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALLE. Wells Fargo & Company dropped their target price on shares of Allegion from $152.00 to $140.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. StockNews.com cut shares of Allegion from a "buy" rating to a "hold" rating in a report on Friday. Morgan Stanley began coverage on shares of Allegion in a report on Monday, January 6th. They issued an "equal weight" rating and a $137.00 target price on the stock. Barclays dropped their target price on shares of Allegion from $137.00 to $134.00 and set an "underweight" rating on the stock in a report on Wednesday, January 8th. Finally, Robert W. Baird raised their target price on shares of Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $140.83.

Insiders Place Their Bets

In other news, CEO John H. Stone acquired 7,500 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average cost of $140.70 per share, for a total transaction 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 approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

Allegion Stock Performance

ALLE traded up $0.36 during trading on Friday, hitting $133.51. The company's stock had a trading volume of 1,354,576 shares, compared to its average volume of 708,372. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. Allegion plc has a one year low of $113.27 and a one year high of $156.10. The firm has a market cap of $11.61 billion, a PE ratio of 20.51, a P/E/G ratio of 3.19 and a beta of 1.11. The business's 50 day simple moving average is $132.30 and its 200-day simple moving average is $137.40.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Allegion's previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.53%. Allegion's dividend payout ratio (DPR) is presently 31.34%.

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.