GAMMA Investing LLC Grows Stock Holdings in Allegion plc (NYSE:ALLE)

GAMMA Investing LLC raised its stake in shares of Allegion plc (NYSE:ALLE) by 55.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 504 shares of the scientific and technical instruments company’s stock after acquiring an additional 180 shares during the period. GAMMA Investing LLC’s holdings in Allegion were worth $66,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ALLE. Public Employees Retirement System of Ohio acquired a new position in Allegion during the third quarter worth $4,988,000. Renaissance Technologies LLC acquired a new position in shares of Allegion during the 2nd quarter worth $27,056,000. Qsemble Capital Management LP purchased a new position in shares of Allegion in the 3rd quarter valued at about $891,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Allegion by 4.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock valued at $1,260,000 after purchasing an additional 340 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Allegion by 107.6% during the third quarter. CIBC Asset Management Inc now owns 24,424 shares of the scientific and technical instruments company’s stock worth $3,560,000 after buying an additional 12,659 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO John H. Stone bought 7,500 shares of Allegion stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares of the company’s stock, valued at $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $144.92, for a total value of $1,164,432.20. Following the sale, the senior vice president now owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This represents a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Allegion Price Performance

Allegion stock opened at $126.19 on Monday. The firm’s 50-day moving average is $136.94 and its two-hundred day moving average is $136.04. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The stock has a market capitalization of $10.97 billion, a P/E ratio of 19.38, a P/E/G ratio of 3.35 and a beta of 1.11. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The firm had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same quarter last year, the business earned $1.94 earnings per share. Allegion’s revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Allegion plc will post 7.41 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a dividend of $0.48 per share. The ex-dividend date was Tuesday, December 17th. This represents a $1.92 annualized dividend and a yield of 1.52%. Allegion’s dividend payout ratio (DPR) is presently 29.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays lowered their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Mizuho raised their price target on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley initiated coverage on shares of Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price objective on the stock. Wells Fargo & Company dropped their target price on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Robert W. Baird upped their price target on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Allegion has a consensus rating of “Hold” and an average price target of $140.83.

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.