Ieq Capital LLC Purchases 19,990 Shares of Allegion plc (NYSE:ALLE)

Ieq Capital LLC boosted its position in Allegion plc (NYSE:ALLE) by 558.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,571 shares of the scientific and technical instruments company’s stock after purchasing an additional 19,990 shares during the period. Ieq Capital LLC’s holdings in Allegion were worth $3,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Allegion in the third quarter worth approximately $4,988,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Allegion by 4.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock worth $26,724,000 after purchasing an additional 8,806 shares during the period. Qsemble Capital Management LP bought a new stake in shares of Allegion during the third quarter worth $891,000. Nordea Investment Management AB lifted its position in shares of Allegion by 4.4% during 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 purchasing an additional 49,176 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Allegion by 31.6% during the third quarter. JPMorgan Chase & Co. now owns 801,520 shares of the scientific and technical instruments company’s stock valued at $116,814,000 after purchasing an additional 192,609 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 0.0 %

ALLE opened at $127.16 on Friday. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The stock has a fifty day moving average price of $131.09 and a 200-day moving average price of $137.31. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 3.97 and a beta of 1.11. The company has a current ratio of 2.04, a quick ratio of 1.29 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $938.91 million. As a group, equities research analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The company also recently declared 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. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, March 14th. Allegion’s payout ratio is currently 28.15%.

Analysts Set New Price Targets

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

Insider Transactions at Allegion

In related news, CEO John H. Stone bought 7,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the purchase, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the company’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 transaction, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

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.