Avantax Advisory Services Inc. Grows Stock Position in Allegion plc (NYSE:ALLE)

Avantax Advisory Services Inc. grew its stake in shares of Allegion plc (NYSE:ALLE) by 9.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,107 shares of the scientific and technical instruments company’s stock after acquiring an additional 365 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Allegion were worth $537,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALLE. Brooklyn Investment Group acquired a new position in shares of Allegion in the 3rd quarter valued at $28,000. Private Trust Co. NA grew its stake in Allegion by 56.1% during the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after purchasing an additional 115 shares during the last quarter. Tortoise Investment Management LLC increased its holdings in shares of Allegion by 78.0% in the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock valued at $51,000 after purchasing an additional 170 shares during the period. Smartleaf Asset Management LLC increased its holdings in Allegion by 33.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock worth $53,000 after buying an additional 101 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in Allegion by 207.7% during the 4th quarter. Global Retirement Partners LLC now owns 440 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 297 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Trading Down 0.4 %

Shares of ALLE stock opened at $127.17 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The stock has a market cap of $10.97 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 3.97 and a beta of 1.11. The company’s 50-day moving average price is $129.67 and its 200-day moving average price is $136.46. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10.

Allegion (NYSE:ALLE) last released its quarterly 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. The firm had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. As a group, equities analysts predict that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is 29.91%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley raised their price objective on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Robert W. Baird cut their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Barclays lowered their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Allegion currently has a consensus rating of “Hold” and a consensus target price of $138.33.

Insider Buying and Selling at Allegion

In other news, SVP Tracy L. Kemp sold 2,032 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the sale, the senior vice president now owns 10,273 shares of the company’s stock, valued at approximately $1,302,000.02. This represents a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the sale, the chief accounting officer now owns 4,972 shares in the company, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,224 shares of company stock valued at $406,636 over the last quarter. 0.33% of the stock is owned by company insiders.

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.