New York State Teachers Retirement System Has $10.26 Million Stake in Allegion plc (NYSE:ALLE)

New York State Teachers Retirement System lifted its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,497 shares of the scientific and technical instruments company's stock after purchasing an additional 6,213 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Allegion worth $10,258,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lord Abbett & CO. LLC raised its stake in Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company's stock worth $244,063,000 after buying an additional 823,874 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Allegion by 397.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company's stock valued at $88,450,000 after purchasing an additional 484,995 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Allegion during the 3rd quarter worth approximately $666,840,000. Van ECK Associates Corp lifted its stake in Allegion by 8.1% in the fourth quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company's stock valued at $449,033,000 after buying an additional 257,175 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Allegion by 13.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company's stock valued at $277,581,000 after buying an additional 232,395 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Robert W. Baird dropped their price objective on shares of Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a report on Wednesday. StockNews.com downgraded Allegion from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Wells Fargo & Company lowered their price objective on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Barclays dropped their price target on Allegion from $134.00 to $130.00 and set an "underweight" rating on the stock in a research note on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. According to data from MarketBeat.com, Allegion has an average rating of "Hold" and an average price target of $138.33.

Allegion Price Performance

Allegion stock traded up $0.05 during mid-day trading on Friday, reaching $127.16. 870,949 shares of the company were exchanged, compared to its average volume of 890,359. The firm has a market cap of $10.97 billion, a PE ratio of 18.64, a PEG ratio of 3.99 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.29. The company has a fifty day simple moving average of $131.32 and a 200-day simple moving average of $137.24. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. As a group, equities research analysts expect that Allegion plc will post 7.7 earnings per share for the current fiscal year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. 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 annualized dividend and a dividend yield of 1.60%. Allegion's dividend payout ratio (DPR) is presently 28.15%.

Insider Buying and Selling at Allegion

In other news, CEO John H. Stone bought 7,500 shares of the stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the acquisition, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregg C. Sengstack acquired 8,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was acquired at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the acquisition, the director now owns 8,000 shares in the company, valued at $1,001,920. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company 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.