Allianz Asset Management GmbH Boosts Position in Allegion plc (NYSE:ALLE)

Allianz Asset Management GmbH increased its position in shares of Allegion plc (NYSE:ALLE) by 312.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 574,012 shares of the scientific and technical instruments company’s stock after acquiring an additional 434,820 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.66% of Allegion worth $75,012,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Creative Planning boosted its holdings in Allegion by 9.1% in the 3rd quarter. Creative Planning now owns 11,865 shares of the scientific and technical instruments company’s stock valued at $1,729,000 after purchasing an additional 988 shares during the last quarter. Bleakley Financial Group LLC acquired a new position in Allegion in the third quarter valued at approximately $205,000. Blue Trust Inc. lifted its holdings in Allegion by 44.9% in the third quarter. Blue Trust Inc. now owns 500 shares of the scientific and technical instruments company’s stock valued at $73,000 after acquiring an additional 155 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Allegion in the third quarter worth approximately $201,000. Finally, Signaturefd LLC increased its stake in Allegion by 88.5% during the third quarter. Signaturefd LLC now owns 1,423 shares of the scientific and technical instruments company’s stock worth $207,000 after acquiring an additional 668 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays decreased their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday. Robert W. Baird decreased their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday. Morgan Stanley lifted their price target on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $138.33.

Allegion Stock Up 0.0 %

Shares of NYSE:ALLE opened at $127.16 on Friday. The firm has a market capitalization of $10.97 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 3.99 and a beta of 1.11. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.29. The firm’s 50-day moving average is $131.32 and its two-hundred day moving average is $137.24.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The firm had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. Analysts predict that Allegion plc will post 7.7 EPS for the current year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.60%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio is currently 28.15%.

Insider Activity

In other news, Director Gregg C. Sengstack acquired 8,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were bought at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the transaction, the director now owns 8,000 shares in the company, valued at approximately $1,001,920. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This trade represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.