NewEdge Wealth LLC Has $3.97 Million Position in Allegion plc (NYSE:ALLE)

NewEdge Wealth LLC increased its stake in shares of Allegion plc (NYSE:ALLE) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,380 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,090 shares during the quarter. NewEdge Wealth LLC’s holdings in Allegion were worth $3,970,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ALLE. Brooklyn Investment Group acquired a new stake in Allegion in the third quarter valued at approximately $28,000. Global Retirement Partners LLC lifted its stake in 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 valued at $58,000 after acquiring an additional 297 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Allegion by 23.2% in the fourth quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company’s stock worth $59,000 after buying an additional 85 shares during the last quarter. BankPlus Trust Department acquired a new stake in shares of Allegion in the fourth quarter worth $65,000. Finally, GAMMA Investing LLC lifted its stake 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 buying an additional 180 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allegion

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the sale, the chief accounting officer now owns 4,972 shares of the company’s stock, valued at $620,008.40. This trade represents a 7.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John H. Stone purchased 7,500 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the acquisition, the chief executive officer now directly owns 120,481 shares in the company, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Allegion Stock Performance

Shares of NYSE:ALLE opened at $128.82 on Friday. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 3.97 and a beta of 1.11. The firm’s 50 day simple moving average is $130.64 and its 200 day simple moving average is $137.26. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week high of $156.10.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share 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 the consensus estimate of $938.91 million. As a group, sell-side analysts forecast that Allegion plc will post 7.77 earnings per share for the current 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 paid a dividend of $0.51 per share. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Friday, March 14th. Allegion’s dividend payout ratio (DPR) is currently 29.91%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley boosted their price objective on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird reduced their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $138.33.

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.