Groesbeck Investment Management Corp NJ Grows Position in Allegion plc (NYSE:ALLE)

Groesbeck Investment Management Corp NJ boosted its stake in Allegion plc (NYSE:ALLE) by 23.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,529 shares of the scientific and technical instruments company’s stock after purchasing an additional 475 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Allegion were worth $320,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Captrust Financial Advisors lifted its position in Allegion by 1.8% during the fourth quarter. Captrust Financial Advisors now owns 4,601 shares of the scientific and technical instruments company’s stock valued at $484,000 after buying an additional 83 shares in the last quarter. Horizon Investments LLC lifted its position in shares of Allegion by 7.1% during the second quarter. Horizon Investments LLC now owns 1,414 shares of the scientific and technical instruments company’s stock worth $170,000 after purchasing an additional 94 shares in the last quarter. Schechter Investment Advisors LLC lifted its position in shares of 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 lifted its position in shares of Allegion by 19.5% during the third quarter. Huntington National Bank now owns 638 shares of the scientific and technical instruments company’s stock worth $66,000 after purchasing an additional 104 shares in the last quarter. Finally, Allworth Financial LP lifted its position 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 in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ALLE. Wells Fargo & Company cut shares of Allegion from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $139.00 to $140.00 in a research report on Wednesday, February 21st. Barclays upped their price target on shares of Allegion from $121.00 to $122.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. UBS Group upped their price target on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Finally, Mizuho cut shares of Allegion from a “buy” rating to a “neutral” rating and upped their price target for the company from $140.00 to $141.00 in a report on Friday, February 23rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Allegion currently has an average rating of “Hold” and an average price target of $127.83.

Allegion Stock Performance

Shares of NYSE:ALLE traded up $0.31 on Thursday, reaching $126.09. 178,964 shares of the company’s stock were exchanged, compared to its average volume of 714,257. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 4.55 and a beta of 1.14. Allegion plc has a fifty-two week low of $95.94 and a fifty-two week high of $136.91. The business’s 50-day moving average is $131.04 and its two-hundred day moving average is $118.70. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 1.22.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The company had revenue of $897.40 million for the quarter, compared to analysts’ expectations of $904.17 million. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 earnings per share. As a group, equities research analysts forecast that Allegion plc will post 7.01 EPS for the current year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.48 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.52%. Allegion’s dividend payout ratio (DPR) is presently 31.37%.

Insider Buying and Selling

In other news, CEO John H. Stone acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the acquisition, the chief executive officer now directly owns 104,248 shares in the company, valued at $13,803,477.68. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO John H. Stone acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the acquisition, the chief executive officer now directly owns 104,248 shares in the company, valued at $13,803,477.68. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert C. Martens sold 5,391 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total transaction of $716,140.44. Following the completion of the sale, 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. Corporate insiders own 0.90% of the company’s stock.

Allegion Company 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.