Yousif Capital Management LLC Decreases Stock Position in Allegion plc (NYSE:ALLE)

Yousif Capital Management LLC decreased its holdings in shares of Allegion plc (NYSE:ALLE) by 3.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,416 shares of the scientific and technical instruments company’s stock after selling 350 shares during the period. Yousif Capital Management LLC’s holdings in Allegion were worth $1,492,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ALLE. State Street Corp grew its position in Allegion by 1.2% during 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 during the last quarter. Van ECK Associates Corp lifted its stake in shares of Allegion by 1.3% during the third quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock worth $479,577,000 after buying an additional 39,905 shares during the period. Geode Capital Management LLC grew its holdings in shares of Allegion by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock valued at $306,699,000 after buying an additional 8,023 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Allegion by 13.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock valued at $277,581,000 after buying an additional 232,395 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in shares of Allegion by 96.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after acquiring an additional 823,874 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insiders Place Their Bets

In related news, CEO John H. Stone purchased 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on ALLE shares. Mizuho boosted their price target on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Robert W. Baird raised their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Morgan Stanley initiated coverage on shares of Allegion in a research note on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective for the company. Finally, Wells Fargo & Company cut their price objective on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. One equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $140.83.

Allegion Price Performance

Shares of NYSE ALLE opened at $131.33 on Thursday. 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 $11.42 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 3.19 and a beta of 1.11. The firm’s 50 day simple moving average is $132.78 and its 200-day simple moving average is $137.52. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10.

Allegion Increases Dividend

The company also recently disclosed 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 is a boost from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 1.55%. Allegion’s payout ratio is presently 29.49%.

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.