Allegion plc (NYSE:ALLE) Stock Holdings Lessened by ING Groep NV

ING Groep NV cut its stake in shares of Allegion plc (NYSE:ALLE) by 85.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,103 shares of the scientific and technical instruments company’s stock after selling 65,450 shares during the quarter. ING Groep NV’s holdings in Allegion were worth $1,451,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ALLE. Brooklyn Investment Group acquired a new position in shares of Allegion in the 3rd quarter valued at $28,000. Concord Wealth Partners purchased a new stake in Allegion during the third quarter valued at about $29,000. Global Retirement Partners LLC boosted its holdings in shares of Allegion by 207.7% in the fourth quarter. Global Retirement Partners LLC now owns 440 shares of the scientific and technical instruments company’s stock worth $58,000 after buying an additional 297 shares during the period. GAMMA Investing LLC increased its position in shares of Allegion by 55.6% in the fourth quarter. GAMMA Investing LLC now owns 504 shares of the scientific and technical instruments company’s stock worth $66,000 after acquiring an additional 180 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in shares of Allegion during the third quarter valued at approximately $71,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on ALLE. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Barclays decreased their target price on Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Robert W. Baird dropped their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley raised their price objective on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Allegion currently has an average rating of “Hold” and an average price target of $138.33.

Insider Activity at Allegion

In related news, Director Gregg C. Sengstack bought 8,000 shares of Allegion stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John H. Stone bought 7,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following 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 trade represents a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Allegion Stock Performance

Shares of NYSE ALLE opened at $127.16 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.29. Allegion plc has a one year low of $113.27 and a one year high of $156.10. The business’s 50-day moving average price is $131.09 and its two-hundred day moving average price is $137.38. The company has a market capitalization of $10.97 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE) last announced 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. The business had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.60%. This is an increase from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is currently 28.15%.

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.