Wealth Alliance Has $307,000 Stake in Allegion plc (NYSE:ALLE)

Wealth Alliance trimmed its stake in shares of Allegion plc (NYSE:ALLE) by 15.2% in the fourth quarter, HoldingsChannel reports. The firm owned 2,349 shares of the scientific and technical instruments company’s stock after selling 420 shares during the quarter. Wealth Alliance’s holdings in Allegion were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALLE. Lord Abbett & CO. LLC boosted its position in 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 purchasing an additional 823,874 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Allegion by 397.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock worth $88,450,000 after purchasing an additional 484,995 shares during the period. Van ECK Associates Corp boosted its position in 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 purchasing an additional 257,175 shares during the period. Massachusetts Financial Services Co. MA boosted its position in 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 purchasing an additional 232,395 shares during the period. Finally, FMR LLC boosted its position in Allegion by 231.9% during the third quarter. FMR LLC now owns 290,466 shares of the scientific and technical instruments company’s stock worth $42,333,000 after purchasing an additional 202,957 shares during the period. 92.21% of the stock is owned by institutional investors.

Allegion Trading Up 0.0 %

Shares of Allegion stock opened at $127.16 on Friday. 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 market capitalization of $10.97 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 3.99 and a beta of 1.11. The firm’s 50-day moving average price is $131.32 and its two-hundred day moving average price is $137.24.

Allegion (NYSE:ALLE) last announced its quarterly earnings data 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 45.12%. The business had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. On average, analysts forecast that Allegion plc will post 7.7 earnings per share for the current fiscal year.

Allegion Increases Dividend

The firm 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 dividend of $0.51 per share. This is an increase from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, March 14th. Allegion’s dividend payout ratio is currently 28.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ALLE shares. Morgan Stanley lifted their price objective on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company lowered their price target on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Robert W. Baird cut their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays decreased their target price on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, Allegion presently has an average rating of “Hold” and a consensus price target of $138.33.

Insider Activity at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction 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 in the company, valued at approximately $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregg C. Sengstack acquired 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were purchased at an average cost of $125.24 per share, for a total transaction of $1,001,920.00. Following the acquisition, the director now owns 8,000 shares in the company, valued at $1,001,920. This represents a ∞ 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 insiders.

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.