Allegion plc (NYSE:ALLE) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Allegion plc (NYSE:ALLE - Free Report) by 4.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 204,500 shares of the scientific and technical instruments company's stock after buying an additional 8,806 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Allegion worth $26,724,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in shares of Allegion in the third quarter valued at about $4,988,000. Qsemble Capital Management LP acquired a new position in shares of Allegion during the third quarter valued at about $891,000. Nordea Investment Management AB raised its holdings in shares of Allegion by 4.4% during the fourth quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company's stock valued at $154,643,000 after purchasing an additional 49,176 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Allegion by 4.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company's stock worth $1,260,000 after acquiring an additional 340 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Allegion by 31.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 801,520 shares of the scientific and technical instruments company's stock worth $116,814,000 after purchasing an additional 192,609 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Allegion from a "buy" rating to a "hold" rating in a research note on Friday. Wells Fargo & Company dropped their target price on shares of Allegion from $152.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird boosted their target price on shares of Allegion from $145.00 to $152.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Morgan Stanley initiated coverage on shares of Allegion in a research note on Monday, January 6th. They set an "equal weight" rating and a $137.00 price target on the stock. Finally, Barclays lowered their target price on shares of Allegion from $137.00 to $134.00 and set an "underweight" rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $140.83.

Allegion Trading Up 0.3 %

ALLE stock traded up $0.36 during mid-day trading on Friday, reaching $133.51. 1,354,576 shares of the stock traded hands, compared to its average volume of 708,372. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion plc has a one year low of $113.27 and a one year high of $156.10. The stock has a market capitalization of $11.61 billion, a PE ratio of 20.51, a PEG ratio of 3.19 and a beta of 1.11. The business has a 50-day moving average price of $132.30 and a two-hundred day moving average price of $137.40.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Allegion's previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.53%. Allegion's dividend payout ratio is presently 31.34%.

Insider Transactions at Allegion

In other news, CEO John H. Stone purchased 7,500 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the transaction, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. This represents a 6.64 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.33% of the company's stock.

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.