Entropy Technologies LP Makes New Investment in Allegion plc (NYSE:ALLE)

Entropy Technologies LP bought a new stake in Allegion plc (NYSE:ALLE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,567 shares of the scientific and technical instruments company’s stock, valued at approximately $597,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Empowered Funds LLC acquired a new stake in Allegion during the 4th quarter valued at $656,000. Lecap Asset Management Ltd. bought a new stake in shares of Allegion during the fourth quarter worth $1,575,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Allegion by 1.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,791 shares of the scientific and technical instruments company’s stock valued at $1,149,000 after buying an additional 148 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of 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 valued at $26,724,000 after buying an additional 8,806 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in Allegion by 17.0% during the 4th quarter. Bleakley Financial Group LLC now owns 1,643 shares of the scientific and technical instruments company’s stock worth $215,000 after buying an additional 239 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ALLE. Wells Fargo & Company lowered 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 report on Tuesday, January 7th. Mizuho boosted their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird increased their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Morgan Stanley began coverage on Allegion in a research report on Monday, January 6th. They set an “equal weight” rating and a $137.00 target price for the company. Finally, StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $140.83.

Insider Activity

In other news, CEO John H. Stone acquired 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Allegion Stock Up 0.8 %

NYSE:ALLE opened at $131.60 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The stock’s fifty day simple moving average is $132.96 and its 200-day simple moving average is $137.56. The firm has a market capitalization of $11.44 billion, a P/E ratio of 20.22, a P/E/G ratio of 3.19 and a beta of 1.11.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.55%. Allegion’s dividend payout ratio is 29.49%.

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.