Allstate Corp Buys Shares of 2,388 Allegion plc (NYSE:ALLE)

Allstate Corp acquired a new stake in Allegion plc (NYSE:ALLE) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,388 shares of the scientific and technical instruments company’s stock, valued at approximately $312,000.

Several other large investors also recently modified their holdings of ALLE. Public Employees Retirement System of Ohio bought a new stake in Allegion during the third quarter valued at $4,988,000. Crew Capital Management Ltd. boosted its position in shares of Allegion by 224.9% during the 4th quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company’s stock valued at $759,000 after purchasing an additional 4,022 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Allegion by 4.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock worth $26,724,000 after purchasing an additional 8,806 shares during the period. Daiwa Securities Group Inc. increased its holdings in Allegion by 73.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 18,761 shares of the scientific and technical instruments company’s stock worth $2,452,000 after purchasing an additional 7,950 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Allegion by 4.4% in the fourth quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock valued at $154,643,000 after buying an additional 49,176 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Allegion news, SVP David S. Ilardi sold 789 shares of the business’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 transaction, the senior vice president now directly owns 9,625 shares in the company, valued at $1,205,820. The trade was a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of Allegion stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the sale, the senior vice president now directly owns 10,273 shares in the company, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,224 shares of company stock valued at $406,636 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Allegion Stock Up 0.8 %

ALLE stock opened at $132.07 on Thursday. The stock’s 50 day moving average is $129.40 and its 200-day moving average is $136.08. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The firm has a market capitalization of $11.40 billion, a PE ratio of 19.37, a P/E/G ratio of 3.97 and a beta of 1.11. 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 posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $938.91 million. Sell-side analysts expect that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.51 per share. The ex-dividend date was Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 1.54%. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is currently 29.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ALLE shares. Wells Fargo & Company lowered their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Robert W. Baird dropped their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Morgan Stanley increased their price objective on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Barclays reduced their price objective on Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, Allegion currently has a consensus rating of “Hold” and an average 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.