Empowered Funds LLC Purchases New Position in Allegion plc (NYSE:ALLE)

Empowered Funds LLC acquired a new stake in Allegion plc (NYSE:ALLE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 5,022 shares of the scientific and technical instruments company’s stock, valued at approximately $656,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Lord Abbett & CO. LLC grew its holdings in shares of Allegion by 96.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after purchasing an additional 823,874 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Allegion by 397.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock worth $88,450,000 after acquiring an additional 484,995 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Allegion during the 3rd quarter worth approximately $666,840,000. Massachusetts Financial Services Co. MA lifted 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 worth $277,581,000 after purchasing an additional 232,395 shares during the period. Finally, FMR LLC lifted its holdings in shares of Allegion by 231.9% during the third quarter. FMR LLC now owns 290,466 shares of the scientific and technical instruments company’s stock worth $42,333,000 after purchasing an additional 202,957 shares during the period. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Down 5.6 %

NYSE:ALLE opened at $125.94 on Wednesday. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $10.95 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 3.19 and a beta of 1.11. The firm has a fifty day simple moving average of $132.14 and a two-hundred day simple moving average of $137.42.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.75 by $0.11. Allegion had a return on equity of 45.64% and a net margin of 15.36%. Analysts expect that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Increases Dividend

The firm 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 is an increase from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 1.62%. Allegion’s dividend payout ratio is presently 29.49%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company cut their target price on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird upped 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. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Barclays reduced their price objective on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Morgan Stanley started coverage on shares of Allegion in a research note on Monday, January 6th. They set an “equal weight” rating and a $137.00 target price for the company. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, Allegion has an average rating of “Hold” and an average price target of $140.83.

Insider Buying and Selling at Allegion

In related news, CEO John H. Stone bought 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,481 shares in the company, 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

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.