ExodusPoint Capital Management LP Purchases 66,240 Shares of Allegion plc (NYSE:ALLE)

ExodusPoint Capital Management LP grew its position in shares of Allegion plc (NYSE:ALLE) by 1,190.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,803 shares of the scientific and technical instruments company’s stock after purchasing an additional 66,240 shares during the period. ExodusPoint Capital Management LP’s holdings in Allegion were worth $9,383,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in shares of Allegion during the 4th quarter valued at $28,000. Atala Financial Inc bought a new position in shares of Allegion during the fourth quarter valued at about $35,000. Private Trust Co. NA lifted its stake in shares of Allegion by 56.1% in the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 115 shares during the last quarter. Tortoise Investment Management LLC lifted its stake in shares of Allegion by 78.0% in the 4th quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock valued at $51,000 after acquiring an additional 170 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Allegion by 33.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock valued at $53,000 after acquiring an additional 101 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Trading Down 2.9 %

NYSE ALLE opened at $123.53 on Friday. The firm has a market capitalization of $10.66 billion, a PE ratio of 18.11, a P/E/G ratio of 3.97 and a beta of 1.01. The stock’s 50 day moving average is $129.10 and its 200 day moving average is $135.89. Allegion plc has a twelve month low of $113.27 and a twelve month 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.

Allegion (NYSE:ALLE) last announced its earnings results 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 firm had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. 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 announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.51 dividend. This is a boost 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%. The ex-dividend date was Friday, March 14th. Allegion’s dividend payout ratio is currently 29.91%.

Insider Activity

In related 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregg C. Sengstack bought 8,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was acquired 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 $1,001,920. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 3,224 shares of company stock worth $406,636 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALLE. Barclays cut their target price on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a report on Wednesday, March 26th. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Robert W. Baird lowered their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their target price on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Morgan Stanley boosted their price target on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, Allegion presently has a consensus rating of “Hold” and a consensus price target of $137.67.

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.