State of Alaska Department of Revenue Cuts Position in Allegion plc (NYSE:ALLE)

State of Alaska Department of Revenue trimmed its position in Allegion plc (NYSE:ALLE) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,913 shares of the scientific and technical instruments company’s stock after selling 215 shares during the quarter. State of Alaska Department of Revenue’s holdings in Allegion were worth $1,295,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. raised its holdings in shares of Allegion by 61.0% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 72 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Allegion during the 3rd quarter valued at about $28,000. Concord Wealth Partners purchased a new stake in shares of Allegion during the 3rd quarter valued at about $29,000. Cromwell Holdings LLC raised its holdings in shares of Allegion by 65.2% during the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 92 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Allegion by 66.2% during the 3rd quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock valued at $47,000 after buying an additional 129 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Trading Down 0.3 %

NYSE:ALLE opened at $131.33 on Thursday. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The firm has a market capitalization of $11.42 billion, a P/E ratio of 20.17, a P/E/G ratio of 3.19 and a beta of 1.11. 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 business has a 50 day simple moving average of $132.78 and a 200 day simple moving average of $137.52.

Allegion Increases Dividend

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

Insider Activity at Allegion

In related news, CEO John H. Stone purchased 7,500 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the transaction, the chief executive officer now owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Morgan Stanley assumed coverage on Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective on the stock. Barclays dropped their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Finally, Robert W. Baird lifted their price objective on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Allegion presently has an average rating of “Hold” and a consensus target price 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.