Sterling Capital Management LLC grew its stake in shares of Allegion plc (NYSE:ALLE - Free Report) by 1,258.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,311 shares of the scientific and technical instruments company's stock after buying an additional 41,976 shares during the quarter. Sterling Capital Management LLC owned about 0.05% of Allegion worth $5,921,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 worth $1,400,688,000 after purchasing an additional 177,808 shares during the last quarter. Boston Partners increased its holdings in shares of Allegion by 11.6% in 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 buying an additional 488,390 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Allegion by 8.1% during 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 acquiring an additional 257,175 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Allegion by 2.0% during the fourth 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 lifted its holdings in shares of Allegion by 5.6% during the fourth 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 purchasing an additional 105,840 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.
Allegion Stock Up 0.5 %
Allegion stock traded up $0.67 during mid-day trading on Tuesday, hitting $126.96. 753,390 shares of the company's stock were exchanged, compared to its average volume of 813,611. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The stock has a 50 day moving average of $127.66 and a two-hundred day moving average of $134.68. The stock has a market cap of $10.96 billion, a P/E ratio of 18.62, a P/E/G ratio of 3.97 and a beta of 1.01. 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 data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.11. The business had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. As a group, analysts anticipate that Allegion plc will post 7.77 EPS for the current fiscal year.
Allegion Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 1.61%. Allegion's payout ratio is presently 29.91%.
Insider Activity at Allegion
In related news, SVP David S. Ilardi sold 789 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the completion of the transaction, the senior vice president now directly owns 9,625 shares in the company, valued at $1,205,820. This represents a 7.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm's stock in a transaction on 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 owns 10,273 shares in the company, 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. In the last three months, insiders have sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on ALLE. Barclays dropped their price target on Allegion from $130.00 to $126.00 and set an "underweight" rating on the stock in a research note on Wednesday, March 26th. Robert W. Baird decreased their price objective on shares of Allegion from $152.00 to $144.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Morgan Stanley increased 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. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat.com, Allegion currently has an average rating of "Hold" and a consensus price target of $137.67.
Check Out Our Latest Stock Analysis on Allegion
Allegion Company Profile
(
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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