Tredje AP fonden cut its holdings in shares of Allegion plc (NYSE:ALLE - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,719 shares of the scientific and technical instruments company's stock after selling 13,719 shares during the period. Tredje AP fonden's holdings in Allegion were worth $1,793,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC raised its position in shares of Allegion by 96.8% in the 3rd 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 acquiring an additional 823,874 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Allegion in the 4th quarter valued at approximately $65,175,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Allegion by 397.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company's stock valued at $88,450,000 after acquiring an additional 484,995 shares during the period. Allianz Asset Management GmbH raised its position in shares of Allegion by 312.4% in the 4th quarter. Allianz Asset Management GmbH now owns 574,012 shares of the scientific and technical instruments company's stock valued at $75,012,000 after acquiring an additional 434,820 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of 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 valued at $449,033,000 after acquiring an additional 257,175 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Allegion
In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm's stock in a transaction 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 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on ALLE. Robert W. Baird cut their price target on shares of 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 report on Friday, March 7th. Morgan Stanley raised their target price 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. Barclays dropped their target price on shares of Allegion from $134.00 to $130.00 and set an "underweight" rating on the stock in a report on Wednesday, February 19th. Finally, 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 report 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $138.33.
Check Out Our Latest Stock Analysis on ALLE
Allegion Stock Up 0.7 %
Shares of ALLE traded up $0.83 during mid-day trading on Wednesday, hitting $128.81. 1,254,851 shares of the company's stock were exchanged, compared to its average volume of 716,534. The company has a market cap of $11.12 billion, a PE ratio of 18.89, a P/E/G ratio of 3.97 and a beta of 1.11. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10. The company has a 50-day simple moving average of $129.66 and a 200 day simple moving average of $136.66. 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 (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping the consensus estimate 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. On average, research analysts forecast that Allegion plc will post 7.77 earnings per share for the current fiscal year.
Allegion Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Allegion's previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.58%. Allegion's dividend payout ratio (DPR) is currently 29.91%.
Allegion Company Profile
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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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