Allegion plc (NYSE:ALLE) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in Allegion plc (NYSE:ALLE) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,256 shares of the scientific and technical instruments company’s stock after selling 4,340 shares during the period. Rhumbline Advisers owned 0.19% of Allegion worth $21,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. State Street Corp boosted its stake in shares of Allegion by 1.2% during 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 during the period. Van ECK Associates Corp boosted its stake in shares of Allegion by 8.1% during the fourth quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after buying an additional 257,175 shares during the period. Geode Capital Management LLC boosted its stake 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 worth $306,699,000 after buying an additional 8,023 shares during the period. Massachusetts Financial Services Co. MA boosted its stake 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 buying an additional 232,395 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake 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 buying an additional 823,874 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Buying and Selling at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the transaction, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at $620,008.40. This trade represents a 7.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John H. Stone acquired 7,500 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the purchase, the chief executive officer now 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 disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALLE has been the subject of several recent research reports. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Robert W. Baird cut their price target on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley increased their price target on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday. Barclays cut their price target on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company cut their price target on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $138.33.

Allegion Trading Up 0.4 %

Shares of Allegion stock opened at $127.05 on Friday. 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 cap of $11.04 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 3.09 and a beta of 1.11. The company has a 50-day moving average of $131.32 and a two-hundred day moving average of $137.24.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. Allegion had a net margin of 15.84% and a return on equity of 45.53%. The company had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. On average, research analysts anticipate that Allegion plc will post 7.65 EPS for the current fiscal 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 issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 1.61%. Allegion’s dividend payout ratio (DPR) is 29.91%.

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.