Prudential PLC Raises Stock Holdings in Allegion plc (NYSE:ALLE)

Prudential PLC raised its position in shares of Allegion plc (NYSE:ALLE) by 14.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,067 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,223 shares during the quarter. Prudential PLC’s holdings in Allegion were worth $4,321,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Allegion by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company’s stock worth $1,400,688,000 after buying an additional 177,808 shares during the last quarter. Boston Partners lifted its holdings in Allegion by 11.6% in the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock valued at $616,503,000 after acquiring an additional 488,390 shares during the period. State Street Corp boosted its position in Allegion by 1.2% in the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after purchasing an additional 49,929 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Allegion by 8.1% during the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after purchasing an additional 257,175 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Allegion by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company’s stock valued at $280,607,000 after purchasing an additional 41,417 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley raised their price objective on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Barclays reduced their target price on Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company cut their price target on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Robert W. Baird decreased 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. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, Allegion has a consensus rating of “Hold” and a consensus price target of $137.67.

Allegion Price Performance

Allegion stock opened at $123.53 on Friday. The company has a fifty day simple moving average of $129.10 and a 200-day simple moving average of $135.84. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 3.97 and a beta of 1.01. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10.

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

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.51 per share. This is an increase from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 1.65%. Allegion’s dividend payout ratio (DPR) is presently 29.91%.

Insiders Place Their Bets

In other news, SVP David S. Ilardi sold 789 shares of Allegion stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the transaction, the senior vice president now owns 9,625 shares in the company, valued at $1,205,820. The trade was a 7.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tracy L. Kemp sold 2,032 shares of the company’s stock in a transaction dated 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 $1,302,000.02. This represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,224 shares of company stock valued at $406,636. Insiders own 0.33% of the company’s stock.

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.