Whittier Trust Co. of Nevada Inc. Grows Stock Position in Allegion plc (NYSE:ALLE)

Whittier Trust Co. of Nevada Inc. raised its stake in shares of Allegion plc (NYSE:ALLE) by 17.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 856 shares of the scientific and technical instruments company’s stock after buying an additional 130 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Allegion were worth $112,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ALLE. Lord Abbett & CO. LLC raised its stake in shares of 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 buying an additional 823,874 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Allegion in the 4th quarter valued at about $65,175,000. Boston Partners increased its stake in shares of Allegion by 11.6% in the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock valued at $616,503,000 after purchasing an additional 488,390 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Allegion by 397.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock valued at $88,450,000 after purchasing an additional 484,995 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Allegion by 312.4% in the 4th quarter. Allianz Asset Management GmbH now owns 574,012 shares of the scientific and technical instruments company’s stock valued at $75,012,000 after purchasing an additional 434,820 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Transactions at Allegion

In related news, SVP David S. Ilardi sold 789 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 9,625 shares in the company, valued at approximately $1,205,820. This represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Nickolas A. Musial sold 403 shares of the company’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 transaction, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,224 shares of company stock worth $406,636 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALLE. Barclays cut their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley lifted their price target on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Robert W. Baird cut their price target on 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 cut their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Finally, StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. 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, the stock has an average rating of “Hold” and a consensus price target of $138.33.

Allegion Price Performance

NYSE:ALLE opened at $127.17 on Monday. The firm has a market cap of $10.97 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. The stock has a 50 day moving average of $129.67 and a two-hundred day moving average of $136.45. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.11. The business had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. On average, analysts expect 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 will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s payout ratio is currently 29.91%.

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.