US Asset Management LLC Takes Position in Allegion plc (NYSE:ALLE)

US Asset Management LLC bought a new stake in Allegion plc (NYSE:ALLE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,671 shares of the scientific and technical instruments company’s stock, valued at approximately $338,000.

A number of other large investors also recently added to or reduced their stakes in ALLE. Schechter Investment Advisors LLC raised its holdings in Allegion by 3.9% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,554 shares of the scientific and technical instruments company’s stock worth $324,000 after purchasing an additional 97 shares in the last quarter. Huntington National Bank boosted its stake in Allegion by 19.5% in the third quarter. Huntington National Bank now owns 638 shares of the scientific and technical instruments company’s stock valued at $66,000 after acquiring an additional 104 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Allegion by 11.8% during the fourth quarter. Allworth Financial LP now owns 982 shares of the scientific and technical instruments company’s stock worth $124,000 after purchasing an additional 104 shares during the last quarter. iA Global Asset Management Inc. lifted its holdings in shares of Allegion by 5.4% in the 3rd quarter. iA Global Asset Management Inc. now owns 2,200 shares of the scientific and technical instruments company’s stock valued at $229,000 after purchasing an additional 112 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Allegion by 20.9% in the 4th quarter. Signaturefd LLC now owns 765 shares of the scientific and technical instruments company’s stock valued at $97,000 after purchasing an additional 132 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO John H. Stone acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average cost of $132.41 per share, for a total transaction of $1,324,100.00. Following the transaction, the chief executive officer now directly owns 104,248 shares of the company’s stock, valued at approximately $13,803,477.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO John H. Stone bought 10,000 shares of Allegion stock in a transaction on Thursday, February 22nd. The shares were bought at an average cost of $132.41 per share, for a total transaction of $1,324,100.00. Following the acquisition, the chief executive officer now owns 104,248 shares in the company, valued at $13,803,477.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert C. Martens sold 5,391 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total transaction of $716,140.44. Following the transaction, the senior vice president now directly owns 7,555 shares in the company, valued at approximately $1,003,606.20. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the subject of several research analyst reports. Barclays increased their price objective on Allegion from $121.00 to $122.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. UBS Group boosted their price target on Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Wells Fargo & Company cut Allegion from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $139.00 to $140.00 in a research note on Wednesday, February 21st. Finally, Mizuho cut shares of Allegion from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $140.00 to $141.00 in a research note on Friday, February 23rd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Allegion currently has an average rating of “Hold” and a consensus target price of $127.83.

Allegion Price Performance

Shares of NYSE ALLE traded up $1.54 during trading on Thursday, hitting $125.67. 670,358 shares of the company were exchanged, compared to its average volume of 707,340. The firm’s fifty day moving average price is $129.02 and its 200 day moving average price is $120.95. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.31 and a quick ratio of 0.87. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 4.38 and a beta of 1.14. Allegion plc has a 1 year low of $95.94 and a 1 year high of $136.91.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The company had revenue of $893.90 million during the quarter, compared to analysts’ expectations of $888.27 million. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.58 earnings per share. On average, sell-side analysts expect that Allegion plc will post 7.08 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion’s dividend payout ratio (DPR) is presently 31.32%.

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.