Allegion plc (NYSE:ALLE) Shares Sold by Intermede Investment Partners Ltd

Intermede Investment Partners Ltd reduced its holdings in Allegion plc (NYSE:ALLE) by 18.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 843,765 shares of the scientific and technical instruments company’s stock after selling 195,848 shares during the period. Allegion makes up 2.9% of Intermede Investment Partners Ltd’s holdings, making the stock its 15th biggest position. Intermede Investment Partners Ltd owned 0.97% of Allegion worth $110,263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Allegion in the 3rd quarter worth $4,988,000. Crew Capital Management Ltd. increased its position in Allegion by 224.9% during 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 during the last quarter. Qsemble Capital Management LP purchased a new position in Allegion during the third quarter worth about $891,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Allegion by 4.5% in the 4th 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 purchasing an additional 8,806 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Allegion by 4.4% in the 4th 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 during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Price Performance

Shares of ALLE opened at $123.91 on Thursday. The company has a market cap of $10.69 billion, a P/E ratio of 18.17, a PEG ratio of 3.97 and a beta of 1.11. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. 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 firm’s 50 day moving average price is $129.82 and its 200 day moving average price is $136.96.

Allegion (NYSE:ALLE) last posted its quarterly earnings data 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. The business had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. On average, research analysts forecast that Allegion plc will post 7.77 earnings per share for the current fiscal 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 of this dividend is Friday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.65%. Allegion’s payout ratio is currently 29.91%.

Analyst Ratings Changes

Several analysts have recently commented on ALLE shares. Robert W. Baird reduced their price target on shares of 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 reduced their target price 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 report on Wednesday, February 19th. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Barclays lowered their target price on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, Allegion presently has an average rating of “Hold” and an average target price of $138.33.

Insider Buying and Selling

In other Allegion news, Director Gregg C. Sengstack purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was bought at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $1,001,920. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the transaction, the senior vice president now owns 10,273 shares in the company, valued at approximately $1,302,000.02. The trade was a 16.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,224 shares of company stock worth $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.