Allegion plc (NYSE:ALLE) Stock Position Lifted by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its stake in Allegion plc (NYSE:ALLE) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 295,102 shares of the scientific and technical instruments company’s stock after buying an additional 15,790 shares during the quarter. Alliancebernstein L.P. owned approximately 0.34% of Allegion worth $38,564,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Millstone Evans Group LLC acquired a new position in shares of Allegion in the fourth quarter worth $28,000. Atala Financial Inc acquired a new position in Allegion in the 4th quarter worth about $35,000. Private Trust Co. NA raised its stake in shares of Allegion by 56.1% during the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 115 shares in the last quarter. Tortoise Investment Management LLC raised its stake in shares of Allegion by 78.0% during the 4th quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock worth $51,000 after purchasing an additional 170 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings 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 valued at $53,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Price Performance

NYSE ALLE opened at $123.53 on Friday. The company has a market cap of $10.66 billion, a P/E ratio of 18.11, a P/E/G ratio of 3.97 and a beta of 1.01. Allegion plc has a 1 year low of $113.27 and a 1 year 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. The company has a fifty day simple moving average of $129.10 and a 200 day simple moving average of $135.84.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The company had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. On average, sell-side analysts predict that Allegion plc will post 7.77 EPS for the current year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.51 dividend. This is an increase from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, March 14th. Allegion’s payout ratio is currently 29.91%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. 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 report on Wednesday, March 26th. Morgan Stanley upped their price objective on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Robert W. Baird lowered their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and six have given 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 $137.67.

Insider Transactions at Allegion

In related news, Director Gregg C. Sengstack bought 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, valued at $1,001,920. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction on Tuesday, March 11th. The shares were 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 of the company’s stock, valued at approximately $1,302,000.02. This trade represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,224 shares of company stock worth $406,636 over the last three months. 0.33% of the stock is currently owned by insiders.

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.