Rockefeller Capital Management L.P. Reduces Stock Holdings in Allegion plc (NYSE:ALLE)

Rockefeller Capital Management L.P. lowered its position in Allegion plc (NYSE:ALLE - Free Report) by 82.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,593 shares of the scientific and technical instruments company's stock after selling 90,614 shares during the period. Rockefeller Capital Management L.P.'s holdings in Allegion were worth $2,560,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Allegion by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company's stock valued at $1,400,688,000 after acquiring an additional 177,808 shares during the last quarter. Boston Partners lifted its position in Allegion by 11.6% during the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company's stock valued at $616,503,000 after purchasing an additional 488,390 shares during the period. Van ECK Associates Corp boosted its holdings 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 purchasing an additional 257,175 shares during the last quarter. Geode Capital Management LLC grew its position in Allegion by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company's stock worth $280,607,000 after purchasing an additional 41,417 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Allegion by 5.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,010,472 shares of the scientific and technical instruments company's stock valued at $262,728,000 after buying an additional 105,840 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Allegion Price Performance

Shares of ALLE stock traded down $0.42 during trading hours on Wednesday, hitting $126.40. 1,466,559 shares of the company's stock were exchanged, compared to its average volume of 822,795. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The firm has a market cap of $10.91 billion, a P/E ratio of 18.53, a P/E/G ratio of 3.97 and a beta of 1.01. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The firm has a 50 day moving average of $127.08 and a two-hundred day moving average of $133.93.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings data 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. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The company had revenue of $945.60 million during the quarter, compared to analysts' expectations of $938.91 million. Sell-side analysts forecast that Allegion plc will post 7.77 EPS for the current year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, June 13th. Allegion's payout ratio is 29.91%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Barclays cut their target price on shares of Allegion from $130.00 to $126.00 and set an "underweight" rating for the company in a report on Wednesday, March 26th. Morgan Stanley increased their price target on shares of Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird cut their price objective on shares of Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, Allegion currently has a consensus rating of "Hold" and an average target price of $138.80.

Insiders Place Their Bets

In other Allegion news, Director Gregg C. Sengstack bought 8,000 shares of the company's stock in a transaction dated 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 completion of the acquisition, the director now directly owns 8,000 shares of the company's stock, valued at $1,001,920. This represents a ∞ 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, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the sale, the chief accounting officer now owns 4,972 shares of the company's stock, valued at $620,008.40. This trade represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

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.