Blue Trust Inc. Grows Stock Holdings in Allegion plc (NYSE:ALLE)

Blue Trust Inc. boosted its holdings in Allegion plc (NYSE:ALLE) by 55.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 779 shares of the scientific and technical instruments company’s stock after buying an additional 279 shares during the period. Blue Trust Inc.’s holdings in Allegion were worth $102,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ALLE. State Street Corp lifted its holdings in shares of Allegion by 1.2% in the third quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after buying an additional 49,929 shares in the last quarter. Van ECK Associates Corp increased its holdings in Allegion by 1.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock valued at $479,577,000 after acquiring an additional 39,905 shares during the last quarter. Geode Capital Management LLC lifted its stake in Allegion by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock worth $306,699,000 after purchasing an additional 8,023 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Allegion by 13.9% during the 3rd 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 purchasing an additional 232,395 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position 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 valued at $244,063,000 after purchasing an additional 823,874 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLE has been the subject of a number of research reports. Barclays lowered their target price on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company reduced their target price on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Mizuho increased their price target on shares of Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Morgan Stanley assumed coverage on Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Allegion currently has a consensus rating of “Hold” and an average price target of $140.83.

Insider Buying and Selling

In other Allegion news, CEO John H. Stone acquired 7,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the purchase, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

Allegion Stock Performance

Shares of NYSE:ALLE opened at $129.27 on Friday. The firm has a 50 day moving average of $133.64 and a 200 day moving average of $137.48. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $11.24 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.51 dividend. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.58%. Allegion’s dividend payout ratio (DPR) 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.