AXQ Capital LP Makes New Investment in Allegion plc (NYSE:ALLE)

AXQ Capital LP purchased a new stake in Allegion plc (NYSE:ALLE) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 4,570 shares of the scientific and technical instruments company’s stock, valued at approximately $597,000.

A number of other institutional investors also recently modified their holdings of the business. Brooklyn Investment Group acquired a new position in Allegion during the third quarter worth about $28,000. Millstone Evans Group LLC acquired a new position in Allegion during the 4th quarter worth approximately $28,000. Atala Financial Inc bought a new position in Allegion in the 4th quarter valued at approximately $35,000. Private Trust Co. NA boosted its position in Allegion by 56.1% in the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after buying an additional 115 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its stake in shares of Allegion by 78.0% during the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock worth $51,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Transactions at Allegion

In other news, Director Gregg C. Sengstack purchased 8,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were acquired at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the acquisition, the director now owns 8,000 shares in the company, valued at approximately $1,001,920. The trade was 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, CAO Nickolas A. Musial sold 403 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at $620,008.40. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,224 shares of company stock valued at $406,636 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Allegion Price Performance

ALLE stock opened at $127.17 on Friday. 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 has a market cap of $10.97 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 3.97 and a beta of 1.11. The company’s fifty day simple moving average is $129.67 and its 200 day simple moving average is $136.46. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The company had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. On average, analysts expect that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.60%. This is a boost from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. Allegion’s dividend payout ratio is presently 29.91%.

Analyst Ratings Changes

A number of analysts have recently commented on ALLE shares. Robert W. Baird cut their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company reduced 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. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Barclays reduced their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. Finally, Morgan Stanley raised their target price on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, Allegion has a consensus rating of “Hold” and an average target price of $138.33.

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.