Van ECK Associates Corp Purchases 257,175 Shares of Allegion plc (NYSE:ALLE)

Van ECK Associates Corp boosted its holdings in shares of Allegion plc (NYSE:ALLE - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,436,127 shares of the scientific and technical instruments company's stock after buying an additional 257,175 shares during the quarter. Van ECK Associates Corp owned 3.95% of Allegion worth $449,033,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised its holdings in shares of Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company's stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Allegion in the 3rd quarter valued at $28,000. Concord Wealth Partners purchased a new position in shares of Allegion in the 3rd quarter valued at $29,000. Cromwell Holdings LLC grew its position in shares of Allegion by 65.2% in the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company's stock valued at $34,000 after buying an additional 92 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Allegion by 66.2% in the 3rd quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company's stock valued at $47,000 after buying an additional 129 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Barclays dropped their target price on shares of Allegion from $137.00 to $134.00 and set an "underweight" rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley began coverage on shares of Allegion in a report on Monday, January 6th. They issued an "equal weight" rating and a $137.00 target price 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 reduced their price objective on shares of Allegion from $152.00 to $140.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Finally, Robert W. Baird lifted their target price on shares of Allegion from $145.00 to $152.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $140.83.

Allegion Trading Up 0.3 %

Allegion stock traded up $0.36 during trading on Friday, reaching $133.51. The company had a trading volume of 1,354,576 shares, compared to its average volume of 708,372. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The stock's 50 day moving average price is $132.30 and its two-hundred day moving average price is $137.40. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 3.19 and a beta of 1.11. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This is an increase from Allegion's previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, March 14th. Allegion's payout ratio is currently 29.49%.

Insiders Place Their Bets

In other news, CEO John H. Stone bought 7,500 shares of Allegion stock in a transaction dated Tuesday, December 3rd. The shares were 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 approximately $16,951,676.70. This trade represents a 6.64 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by insiders.

Allegion 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.