Van ECK Associates Corp Raises Stock Holdings in Allegion plc (NYSE:ALLE)

Van ECK Associates Corp lifted its stake in shares of Allegion plc (NYSE:ALLE) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,436,127 shares of the scientific and technical instruments company’s stock after acquiring an additional 257,175 shares during the period. Van ECK Associates Corp owned 3.95% of Allegion worth $449,033,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. grew its holdings in Allegion by 61.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 72 shares during the period. Brooklyn Investment Group acquired a new position in Allegion in the third quarter valued at $28,000. Concord Wealth Partners purchased a new stake in Allegion during the third quarter valued at about $29,000. Cromwell Holdings LLC increased its stake in Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 92 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Allegion by 66.2% in the 3rd quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock worth $47,000 after purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In other Allegion news, CEO John H. Stone acquired 7,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company’s stock.

Allegion Stock Performance

NYSE:ALLE opened at $131.33 on Thursday. The firm has a 50-day moving average of $132.78 and a two-hundred day moving average of $137.52. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The stock has a market cap of $11.42 billion, a P/E ratio of 20.17, a PEG ratio of 3.19 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.55%. Allegion’s dividend payout ratio is currently 29.49%.

Analyst Upgrades and Downgrades

ALLE has been the subject of a number of research reports. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Robert W. Baird boosted their price objective on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Mizuho raised their target price on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays decreased their price target on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their target price on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Allegion has a consensus rating of “Hold” and an average target price of $140.83.

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.