Allegion plc (NYSE:ALLE) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. boosted its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 16.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,403 shares of the scientific and technical instruments company's stock after buying an additional 5,431 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Allegion were worth $5,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners boosted its stake in shares of Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company's stock worth $616,503,000 after acquiring an additional 488,390 shares in the last quarter. State Street Corp raised its holdings in Allegion by 1.2% in the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company's stock worth $589,659,000 after purchasing an additional 49,929 shares during the period. Van ECK Associates Corp raised its holdings in Allegion by 8.1% in the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company's stock worth $449,033,000 after purchasing an additional 257,175 shares during the period. Geode Capital Management LLC grew its holdings in 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 period. Finally, Lord Abbett & CO. LLC grew its holdings in Allegion by 96.8% in the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company's stock valued at $244,063,000 after purchasing an additional 823,874 shares during the period. Institutional investors and hedge funds own 92.21% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays decreased their target price on Allegion from $130.00 to $126.00 and set an "underweight" rating on the stock in a research report on Wednesday. Wells Fargo & Company dropped 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. StockNews.com downgraded shares of Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Morgan Stanley lifted their price objective on 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 reduced their target price on Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $137.67.

Insiders Place Their Bets

In related news, SVP Tracy L. Kemp sold 2,032 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction 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 approximately $1,302,000.02. This trade represents a 16.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the company's 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 transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,224 shares of company stock valued at $406,636 over the last ninety days. Company insiders own 0.33% of the company's stock.

Allegion Price Performance

NYSE ALLE traded down $0.17 during trading hours on Thursday, hitting $130.21. 825,324 shares of the company's stock traded hands, compared to its average volume of 731,500. The company has a market capitalization of $11.24 billion, a PE ratio of 19.09, a PEG ratio of 3.97 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 1.43. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The firm's 50-day moving average is $129.70 and its 200-day moving average is $136.34.

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 the consensus estimate of $1.75 by $0.11. The firm had revenue of $945.60 million during the quarter, compared to analysts' expectations of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Equities analysts forecast that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from Allegion's previous quarterly dividend of $0.48. Allegion's dividend payout ratio is currently 29.91%.

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.