Allegion plc (NYSE:ALLE) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its stake in Allegion plc (NYSE:ALLE) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 678,497 shares of the scientific and technical instruments company’s stock after selling 39,075 shares during the period. Wells Fargo & Company MN owned 0.78% of Allegion worth $88,666,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Prudential PLC lifted its position in Allegion by 14.6% in the 4th quarter. Prudential PLC now owns 33,067 shares of the scientific and technical instruments company’s stock valued at $4,321,000 after purchasing an additional 4,223 shares during the last quarter. ExodusPoint Capital Management LP increased its stake in shares of Allegion by 1,190.7% in the fourth quarter. ExodusPoint Capital Management LP now owns 71,803 shares of the scientific and technical instruments company’s stock valued at $9,383,000 after purchasing an additional 66,240 shares during the period. Bryce Point Capital LLC bought a new stake in shares of Allegion during the fourth quarter valued at approximately $490,000. Massachusetts Financial Services Co. MA boosted its position in shares of Allegion by 5.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,010,472 shares of the scientific and technical instruments company’s stock worth $262,728,000 after buying an additional 105,840 shares during the period. Finally, Headlands Technologies LLC bought a new position in Allegion in the 4th quarter worth approximately $316,000. 92.21% of the stock is currently owned by institutional investors.

Allegion Trading Down 2.4 %

Shares of NYSE:ALLE opened at $120.72 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 17.70, a PEG 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 50 day moving average price of $128.80 and a 200 day moving average price of $135.62.

Allegion (NYSE:ALLE) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. On average, research analysts anticipate 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 issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.69%. This is a boost from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, March 14th. Allegion’s dividend payout ratio (DPR) is presently 29.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. 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. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Robert W. Baird dropped their price target 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. Barclays decreased their price objective on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a report on Wednesday, March 26th. Finally, Morgan Stanley boosted their target price on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, Allegion has an average rating of “Hold” and a consensus target price of $137.67.

Insider Transactions at Allegion

In other news, SVP Tracy L. Kemp sold 2,032 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the sale, the senior vice president now owns 10,273 shares of the company’s stock, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. The trade was 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 valued at $406,636 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.