Allegion plc (NYSE:ALLE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of Allegion plc (NYSE:ALLE) by 4.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,845 shares of the scientific and technical instruments company’s stock after selling 185 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Allegion were worth $494,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Allegion in the 3rd quarter valued at approximately $4,988,000. Sumitomo Mitsui Trust Group Inc. grew its position in Allegion by 4.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock valued at $26,724,000 after acquiring an additional 8,806 shares during the period. Qsemble Capital Management LP purchased a new stake in shares of Allegion in the third quarter worth about $891,000. Nordea Investment Management AB lifted its stake in shares of Allegion by 4.4% in the fourth quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock worth $154,643,000 after acquiring an additional 49,176 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Allegion by 31.6% in the third quarter. JPMorgan Chase & Co. now owns 801,520 shares of the scientific and technical instruments company’s stock worth $116,814,000 after acquiring an additional 192,609 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Transactions at Allegion

In other news, CEO John H. Stone acquired 7,500 shares of Allegion stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregg C. Sengstack bought 8,000 shares of Allegion stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at $1,001,920. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Allegion Stock Up 0.6 %

Shares of ALLE opened at $127.97 on Tuesday. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 3.97 and a beta of 1.11. The company has a quick ratio of 1.29, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The company has a 50-day moving average price of $130.90 and a two-hundred day moving average price of $137.37.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. The firm had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Equities analysts predict that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid 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 dividend yield of 1.59%. Allegion’s dividend payout ratio is 29.91%.

Analysts Set New Price Targets

Several brokerages have issued reports on ALLE. Barclays cut their price objective on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley increased their price target on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Robert W. Baird reduced their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company cut their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $138.33.

About Allegion

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.