Retirement Systems of Alabama Sells 387 Shares of Allegion plc (NYSE:ALLE)

Retirement Systems of Alabama reduced its holdings in shares of Allegion plc (NYSE:ALLE) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,820 shares of the scientific and technical instruments company’s stock after selling 387 shares during the quarter. Retirement Systems of Alabama’s holdings in Allegion were worth $2,459,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. grew its stake in Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 72 shares during the period. TD Private Client Wealth LLC lifted its holdings in Allegion by 0.4% during the third quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock worth $2,871,000 after acquiring an additional 77 shares during the period. OneDigital Investment Advisors LLC increased its position in Allegion by 2.9% in the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock worth $425,000 after buying an additional 82 shares during the last quarter. Heritage Family Offices LLP increased its position in Allegion by 3.2% in the fourth quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock worth $346,000 after buying an additional 82 shares during the last quarter. Finally, Cromwell Holdings LLC increased its position in Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 92 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Allegion Stock Up 0.8 %

Shares of NYSE:ALLE opened at $131.60 on Wednesday. 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 firm has a market capitalization of $11.44 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 3.19 and a beta of 1.11. The business has a 50 day simple moving average of $132.96 and a two-hundred day simple moving average of $137.56. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.55%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s dividend payout ratio is presently 29.49%.

Insider Buying and Selling at Allegion

In other news, CEO John H. Stone purchased 7,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ALLE has been the subject of several recent research reports. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Robert W. Baird increased their target price on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Morgan Stanley initiated coverage on Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 target price for the company. Wells Fargo & Company dropped their price objective on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Mizuho increased their price objective on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $140.83.

About Allegion

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.