Victory Capital Management Inc. Decreases Stock Holdings in Allegion plc (NYSE:ALLE)

Victory Capital Management Inc. lessened its holdings in shares of Allegion plc (NYSE:ALLE - Free Report) by 33.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,250 shares of the scientific and technical instruments company's stock after selling 20,495 shares during the period. Victory Capital Management Inc.'s holdings in Allegion were worth $5,260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in shares of Allegion by 1,330.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,130 shares of the scientific and technical instruments company's stock valued at $148,000 after acquiring an additional 1,051 shares during the period. Norden Group LLC increased its position in shares of Allegion by 13.4% in the 4th quarter. Norden Group LLC now owns 2,001 shares of the scientific and technical instruments company's stock valued at $261,000 after acquiring an additional 237 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Allegion by 33.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock valued at $53,000 after acquiring an additional 101 shares during the period. Cape Investment Advisory Inc. increased its position in shares of Allegion by 45.1% in the 4th quarter. Cape Investment Advisory Inc. now owns 537 shares of the scientific and technical instruments company's stock valued at $70,000 after acquiring an additional 167 shares during the period. Finally, Private Trust Co. NA increased its position in shares of Allegion by 56.1% in the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock valued at $42,000 after acquiring an additional 115 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

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Allegion Price Performance

Shares of ALLE stock traded up $0.93 during mid-day trading on Wednesday, hitting $128.91. 521,548 shares of the stock were exchanged, compared to its average volume of 713,874. The firm has a fifty day moving average of $129.66 and a 200 day moving average of $136.66. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The company has a market cap of $11.12 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) 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 business had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Research analysts anticipate that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The business also recently declared 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 is Friday, March 14th. This is a positive change from Allegion's previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 1.58%. Allegion's dividend payout ratio (DPR) is currently 29.91%.

Insider Activity at Allegion

In related news, SVP David S. Ilardi sold 789 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the transaction, the senior vice president now directly owns 9,625 shares of the company's stock, valued at approximately $1,205,820. This trade represents a 7.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregg C. Sengstack bought 8,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was acquired at an average cost of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at approximately $1,001,920. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ALLE has been the topic of several research reports. Barclays cut their target price on Allegion from $134.00 to $130.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 19th. Robert W. Baird cut their price target on Allegion from $152.00 to $144.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company cut their price target on Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley increased their price target on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. One 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 a consensus rating of "Hold" and an average target price of $138.33.

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.