MJP Associates Inc. ADV Takes $213,000 Position in Allegion plc (NYSE:ALLE)

MJP Associates Inc. ADV purchased a new stake in shares of Allegion plc (NYSE:ALLE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,678 shares of the scientific and technical instruments company’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Compass Wealth Management LLC bought a new position in Allegion in the fourth quarter valued at approximately $25,000. CVA Family Office LLC acquired a new stake in Allegion in the fourth quarter worth $28,000. Benjamin Edwards Inc. raised its holdings in Allegion by 123.1% in the second quarter. Benjamin Edwards Inc. now owns 261 shares of the scientific and technical instruments company’s stock worth $31,000 after purchasing an additional 144 shares during the period. Ancora Advisors LLC raised its holdings in Allegion by 153.3% in the third quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 230 shares during the period. Finally, Headinvest LLC acquired a new stake in Allegion in the third quarter worth $48,000. 92.21% of the stock is owned by institutional investors.

Allegion Stock Up 0.4 %

Shares of Allegion stock traded up $0.47 during trading on Thursday, reaching $134.71. 331,763 shares of the company traded hands, compared to its average volume of 775,549. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85. Allegion plc has a 1-year low of $95.94 and a 1-year high of $136.91. The company has a 50 day moving average price of $129.38 and a 200-day moving average price of $115.99. The firm has a market capitalization of $11.79 billion, a PE ratio of 21.93, a P/E/G ratio of 4.81 and a beta of 1.13.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The firm had revenue of $897.40 million for the quarter, compared to the consensus estimate of $904.17 million. During the same quarter in the prior year, the company posted $1.60 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts expect that Allegion plc will post 7.01 earnings per share for the current fiscal year.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.92 annualized dividend and a yield of 1.43%. This is a positive change from Allegion’s previous quarterly dividend of $0.45. Allegion’s dividend payout ratio is presently 31.37%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ALLE shares. Barclays increased their target price on shares of Allegion from $119.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Wells Fargo & Company downgraded shares of Allegion from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $139.00 to $140.00 in a research report on Wednesday, February 21st. Finally, Mizuho downgraded shares of Allegion from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $125.50.

Insider Activity at Allegion

In related news, VP Timothy P. Eckersley sold 5,047 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $129.99, for a total transaction of $656,059.53. Following the completion of the transaction, the vice president now owns 35,567 shares in the company, valued at $4,623,354.33. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Allegion news, CEO John H. Stone bought 10,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was purchased at an average price of $132.41 per share, for a total transaction of $1,324,100.00. Following the completion of the transaction, the chief executive officer now directly owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Timothy P. Eckersley sold 5,047 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $129.99, for a total transaction of $656,059.53. Following the transaction, the vice president now owns 35,567 shares of the company’s stock, valued at approximately $4,623,354.33. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

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.