Choreo LLC Invests $209,000 in Allegion plc (NYSE:ALLE)

Choreo LLC acquired a new position in shares of Allegion plc (NYSE:ALLE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,596 shares of the scientific and technical instruments company’s stock, valued at approximately $209,000.

Other institutional investors have also modified their holdings of the company. McClarren Financial Advisors Inc. raised its position in Allegion by 61.0% in 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 purchasing an additional 72 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Allegion in the 3rd quarter valued at $28,000. Concord Wealth Partners purchased a new stake in Allegion in the 3rd quarter valued at $29,000. Cromwell Holdings LLC raised its position in Allegion by 65.2% in the 3rd quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in Allegion in the 3rd quarter valued at $71,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ALLE shares. Barclays cut their price objective on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday. Robert W. Baird upped their price objective 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. Finally, Morgan Stanley started coverage on shares of Allegion in a research report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective for the company. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, Allegion presently has a consensus rating of “Hold” and a consensus target price of $140.83.

Allegion Stock Performance

Shares of ALLE opened at $133.51 on Friday. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10. The company has a market cap of $11.61 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 3.19 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The firm has a fifty day moving average of $132.30 and a 200-day moving average of $137.40.

Allegion Increases Dividend

The business 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 dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.48. Allegion’s payout ratio is presently 31.34%.

Insider Activity

In other Allegion news, CEO John H. Stone bought 7,500 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were bought 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 trade represents a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

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.