2,327 Shares in Allegion plc (NYSE:ALLE) Purchased by Riverwater Partners LLC

Riverwater Partners LLC bought a new stake in Allegion plc (NYSE:ALLE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,327 shares of the scientific and technical instruments company's stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Millstone Evans Group LLC purchased a new stake in shares of Allegion in the 4th quarter valued at approximately $28,000. Atala Financial Inc acquired a new stake in Allegion in the fourth quarter valued at $35,000. Private Trust Co. NA boosted its stake in shares of Allegion by 56.1% during the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock worth $42,000 after acquiring an additional 115 shares in the last quarter. Tortoise Investment Management LLC raised its stake in shares of Allegion by 78.0% during the 4th quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company's stock worth $51,000 after buying an additional 170 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Allegion by 33.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock valued at $53,000 after purchasing an additional 101 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Buying and Selling

In other news, 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 transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the sale, the senior vice president now directly owns 10,273 shares of the company's stock, valued at $1,302,000.02. This represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,224 shares of company stock worth $406,636. Corporate insiders own 0.33% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Robert W. Baird reduced their target price on Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Barclays reduced their target price on Allegion from $130.00 to $126.00 and set an "underweight" rating for the company in a research note on Wednesday, March 26th. Morgan Stanley lifted their target price on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price target on Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research 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's stock. According to MarketBeat.com, Allegion currently has a consensus rating of "Hold" and a consensus price target of $137.67.

Allegion Price Performance

ALLE stock traded down $4.36 on Thursday, hitting $120.29. 551,087 shares of the company's stock traded hands, compared to its average volume of 804,667. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 3.97 and a beta of 1.01. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The stock has a fifty day moving average of $127.92 and a 200-day moving average of $135.14. The company has a current ratio of 2.04, a quick ratio of 1.43 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, beating the consensus estimate of $1.75 by $0.11. The business had revenue of $945.60 million during 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%. On average, analysts forecast that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Friday, March 14th. This is a positive change from Allegion's previous quarterly dividend of $0.48. Allegion's payout ratio is presently 29.91%.

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.