Proficio Capital Partners LLC bought a new position in shares of Allegion plc (NYSE:ALLE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,990 shares of the scientific and technical instruments company's stock, valued at approximately $2,090,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALLE. State Street Corp grew its position in shares of Allegion by 1.2% in the third quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company's stock valued at $589,659,000 after purchasing an additional 49,929 shares during the last quarter. Van ECK Associates Corp grew its position in shares of 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 purchasing an additional 257,175 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Allegion by 0.4% in the third quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company's stock valued at $306,699,000 after purchasing an additional 8,023 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position 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 purchasing an additional 232,395 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in Allegion by 96.8% during the third 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 acquiring an additional 823,874 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on ALLE. Barclays decreased their target price on shares of Allegion from $134.00 to $130.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company decreased their target price on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley raised their target price on shares of Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Robert W. Baird decreased their target price on shares of Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Finally, StockNews.com lowered shares of Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $138.33.
Check Out Our Latest Analysis on Allegion
Insider Activity
In other news, CAO Nickolas A. Musial sold 403 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now owns 4,972 shares of the company's stock, valued at approximately $620,008.40. This trade represents a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the transaction, the senior vice president now directly owns 10,273 shares in the company, valued at approximately $1,302,000.02. This represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,224 shares of company stock valued at $406,636. Company insiders own 0.33% of the company's stock.
Allegion Trading Down 0.4 %
NYSE:ALLE traded down $0.55 during trading hours on Friday, reaching $127.17. 2,502,927 shares of the company were exchanged, compared to its average volume of 724,969. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 3.97 and a beta of 1.11. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The stock has a 50 day simple moving average of $129.67 and a 200 day simple moving average of $136.46.
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 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. As a group, analysts predict that Allegion plc will post 7.77 EPS for the current year.
Allegion Increases Dividend
The firm also recently announced 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 represents a $2.04 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, March 14th. This is an increase from Allegion's previous quarterly dividend of $0.48. Allegion's dividend payout ratio (DPR) is currently 29.91%.
Allegion Profile
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Free Report)
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.
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