By otakuyassine3@gmail.com 
LPL Financial LLC grew its position in Allegion plc (NYSE:ALLE – Free Report) by 17.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,053 shares of the scientific and technical instruments company’s stock after acquiring an additional 12,048 shares during the quarter. LPL Financial LLC owned 0.09% of Allegion worth $10,461,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of ALLE. Public Employees Retirement System of Ohio acquired a new position in shares of Allegion in the 3rd quarter valued at $4,988,000. Crew Capital Management Ltd. raised its position in Allegion by 224.9% in the fourth quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company’s stock worth $759,000 after purchasing an additional 4,022 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Allegion by 4.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock worth $26,724,000 after purchasing an additional 8,806 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Allegion by 73.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 18,761 shares of the scientific and technical instruments company’s stock worth $2,452,000 after purchasing an additional 7,950 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in 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 in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.
Allegion Stock Performance
Allegion stock opened at $127.21 on Friday. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The stock has a 50-day simple moving average of $129.28 and a 200 day simple moving average of $136.02. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 3.97 and a beta of 1.01.
Allegion (NYSE:ALLE – Get Free Report) last announced its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $938.91 million. On average, research analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.
Allegion Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.60%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, March 14th. Allegion’s dividend payout ratio (DPR) is presently 29.91%.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Robert W. Baird dropped their price objective on 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 boosted their target price on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Wells Fargo & Company lowered 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. Finally, Barclays cut their price target on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $137.67.
Get Our Latest Stock Report on ALLE
Insider Activity
In related news, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the transaction, the senior vice president now directly owns 10,273 shares in the company, valued at approximately $1,302,000.02. The trade was a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,224 shares of company stock valued at $406,636. 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.
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