Proficio Capital Partners LLC Acquires New Holdings in Allegion plc (NYSE:ALLE)

Proficio Capital Partners LLC bought a new position in shares of Allegion plc (NYSE:ALLE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,990 shares of the scientific and technical instruments company's stock, valued at approximately $2,090,000.

Several other large investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its holdings 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 worth $594,000 after acquiring an additional 757 shares in the last quarter. Stephens Inc. AR bought a new position in Allegion in the third quarter worth approximately $225,000. Janney Montgomery Scott LLC boosted its holdings in Allegion by 3.5% in the third quarter. Janney Montgomery Scott LLC now owns 68,046 shares of the scientific and technical instruments company's stock worth $9,917,000 after acquiring an additional 2,318 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Allegion by 83.0% in 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 acquiring an additional 12,226 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Allegion by 22.2% in the third quarter. QRG Capital Management Inc. now owns 19,886 shares of the scientific and technical instruments company's stock valued at $2,898,000 after purchasing an additional 3,609 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

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Allegion Stock Performance

Allegion stock traded up $4.01 during mid-day trading on Friday, reaching $131.36. 942,682 shares of the company's stock were exchanged, compared to its average volume of 901,365. The business's fifty day simple moving average is $130.02 and its 200 day simple moving average is $137.13. The firm has a market capitalization of $11.33 billion, a PE ratio of 19.26, a P/E/G ratio of 3.97 and a beta of 1.10. Allegion plc has a one year low of $113.27 and a one year high of $156.10. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $938.91 million. On average, sell-side analysts expect that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The company also recently announced 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. This is an increase from Allegion's previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, March 14th. Allegion's dividend payout ratio (DPR) is currently 29.91%.

Insiders Place Their Bets

In related news, Director Gregg C. Sengstack purchased 8,000 shares of Allegion stock in a transaction dated Wednesday, February 19th. The stock was bought at an average cost 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 $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David S. Ilardi sold 789 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the sale, the senior vice president now owns 9,625 shares in the company, valued at approximately $1,205,820. The trade was a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Robert W. Baird dropped their target price on Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Barclays dropped 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. Morgan Stanley raised their target price on Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a report on Wednesday, February 19th. Finally, StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a report on Friday. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $138.33.

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.