Allegion plc (NYSE:ALLE) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its position in Allegion plc (NYSE:ALLE) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,348 shares of the scientific and technical instruments company’s stock after selling 1,271 shares during the period. Royal London Asset Management Ltd.’s holdings in Allegion were worth $4,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of Allegion during the 4th quarter worth about $28,000. Ancora Advisors LLC raised its holdings in Allegion by 153.3% during the third quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 230 shares in the last quarter. Headinvest LLC purchased a new stake in shares of Allegion during the 3rd quarter worth approximately $48,000. Itau Unibanco Holding S.A. purchased a new position in shares of Allegion in the 3rd quarter valued at $60,000. Finally, Signaturefd LLC grew 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 buying an additional 132 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,194 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the transaction, the senior vice president now directly owns 11,103 shares in the company, valued at approximately $1,354,343.94. The transaction 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Mizuho downgraded Allegion from a “buy” rating to a “neutral” rating and increased their price objective for the company from $140.00 to $141.00 in a report on Friday, February 23rd. Wells Fargo & Company lowered shares of Allegion from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $139.00 to $140.00 in a research note on Wednesday, February 21st. Barclays downgraded shares of Allegion from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $122.00 to $116.00 in a research note on Tuesday, June 4th. 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. Finally, StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $126.83.

Allegion Price Performance

Shares of ALLE traded down $2.31 during mid-day trading on Friday, hitting $116.36. The company’s stock had a trading volume of 480,134 shares, compared to its average volume of 532,269. The company has a current ratio of 1.31, a quick ratio of 0.87 and a debt-to-equity ratio of 1.18. Allegion plc has a 1-year low of $95.94 and a 1-year high of $136.91. The firm has a market capitalization of $10.17 billion, a P/E ratio of 18.98, a P/E/G ratio of 3.66 and a beta of 1.16. The firm has a 50-day simple moving average of $123.57 and a 200 day simple moving average of $124.63.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Allegion had a return on equity of 48.58% and a net margin of 14.93%. The company had revenue of $893.90 million during the quarter, compared to the consensus estimate of $888.27 million. During the same quarter last year, the company earned $1.58 earnings per share. Allegion’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts predict that Allegion plc will post 7.09 EPS for the current fiscal year.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.92 annualized dividend and a yield of 1.65%. Allegion’s payout ratio is currently 31.32%.

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.