Vanguard Group Inc. Boosts Stock Position in Allegion plc (NYSE:ALLE)

Vanguard Group Inc. boosted its position in shares of Allegion plc (NYSE:ALLE) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,718,458 shares of the scientific and technical instruments company’s stock after purchasing an additional 177,808 shares during the period. Vanguard Group Inc. owned 0.12% of Allegion worth $1,400,688,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of Allegion in the third quarter valued at approximately $28,000. Millstone Evans Group LLC acquired a new stake in Allegion during the 4th quarter worth approximately $28,000. Atala Financial Inc purchased a new position in Allegion in the 4th quarter valued at approximately $35,000. Private Trust Co. NA grew its stake in shares of 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 worth $42,000 after acquiring an additional 115 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its position 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 acquiring an additional 170 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Performance

Shares of Allegion stock opened at $130.21 on Friday. The firm’s fifty day simple moving average is $129.65 and its 200-day simple moving average is $136.29. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The stock has a market capitalization of $11.24 billion, a price-to-earnings ratio of 19.09, 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 (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, beating analysts’ consensus estimates of $1.75 by $0.11. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The company had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. As a group, equities analysts forecast that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 an increase from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.57%. Allegion’s dividend payout ratio is currently 29.91%.

Insiders Place Their Bets

In related news, SVP David S. Ilardi sold 789 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the completion of the sale, the senior vice president now owns 9,625 shares in the company, valued at $1,205,820. This trade represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregg C. Sengstack bought 8,000 shares of the company’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 transaction, the director now directly owns 8,000 shares in the company, valued at $1,001,920. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Morgan Stanley boosted their target price on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Robert W. Baird reduced their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, Barclays dropped their target price on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, Allegion presently has an average rating of “Hold” and a consensus price target of $137.67.

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.