KLP Kapitalforvaltning AS Makes New $5.62 Million Investment in Allegion plc (NYSE:ALLE)

KLP Kapitalforvaltning AS bought a new position in Allegion plc (NYSE:ALLE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 43,000 shares of the scientific and technical instruments company’s stock, valued at approximately $5,619,000.

Other institutional investors have also made changes to their positions in the company. Boston Partners raised its holdings in shares of Allegion by 11.6% during the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock worth $616,503,000 after purchasing an additional 488,390 shares during the period. State Street Corp raised its position in shares of Allegion by 1.2% during the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after purchasing an additional 49,929 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Allegion by 8.1% in the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after purchasing an additional 257,175 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Allegion by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock worth $306,699,000 after purchasing an additional 8,023 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after purchasing an additional 823,874 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ALLE shares. Barclays cut their target price on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Wells Fargo & Company reduced their target price on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley raised their price target on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird reduced their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company 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, Allegion has an average rating of “Hold” and an average target price of $138.33.

Allegion Price Performance

Shares of NYSE:ALLE opened at $129.41 on Wednesday. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 3.97 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The stock’s 50 day moving average price is $129.72 and its 200 day moving average price is $136.38.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Equities research analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.58%. Allegion’s dividend payout ratio is currently 29.91%.

Insider Buying and Selling

In other news, CAO Nickolas A. Musial sold 403 shares of the 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 completion of the sale, the chief accounting officer now owns 4,972 shares in the company, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David S. Ilardi sold 789 shares of Allegion stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total value of $98,845.92. Following the completion of the transaction, the senior vice president now owns 9,625 shares in the company, valued at $1,205,820. The trade was a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,224 shares of company stock worth $406,636. Corporate insiders own 0.33% of the company’s stock.

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.