Centric Wealth Management Trims Stock Position in Allegion plc (NYSE:ALLE)

Centric Wealth Management trimmed its holdings in Allegion plc (NYSE:ALLE) by 48.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 15,649 shares of the scientific and technical instruments company’s stock after selling 14,683 shares during the period. Centric Wealth Management’s holdings in Allegion were worth $2,045,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Millstone Evans Group LLC acquired a new stake in shares of Allegion during the 4th quarter worth about $28,000. Atala Financial Inc purchased a new position in Allegion during the fourth quarter worth about $35,000. Private Trust Co. NA increased its position in shares of Allegion by 56.1% during the fourth 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 raised 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 period. Finally, Smartleaf Asset Management LLC boosted its position in shares of 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 worth $53,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ALLE. Robert W. Baird decreased their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company lowered 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. Barclays cut their price target on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 26th. Morgan Stanley raised their price objective 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, StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, Allegion currently has a consensus rating of “Hold” and an average target price of $137.67.

Insider Buying and Selling at Allegion

In related news, Director Gregg C. Sengstack acquired 8,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was bought at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $1,001,920. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the sale, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,224 shares of company stock worth $406,636 over the last three months. Insiders own 0.33% of the company’s stock.

Allegion Trading Up 1.8 %

Shares of NYSE:ALLE opened at $130.58 on Tuesday. The company has a market cap of $11.27 billion, a PE ratio of 19.15, a P/E/G ratio of 3.97 and a beta of 1.11. The company’s 50 day moving average is $129.48 and its two-hundred day moving average is $136.19. Allegion plc has a 52 week low of $113.27 and a 52 week 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 posted its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The company 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%. Equities analysts predict that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.56%. This is an increase from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, March 14th. Allegion’s dividend payout ratio is 29.91%.

About Allegion

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.