Allegion plc (NYSE:ALLE) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC lifted its position in shares of Allegion plc (NYSE:ALLE) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 239,735 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,875 shares during the period. HighTower Advisors LLC owned about 0.28% of Allegion worth $31,329,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ALLE. State Street Corp grew its position in Allegion by 1.2% during the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after purchasing an additional 49,929 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of 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 buying an additional 257,175 shares during the period. Geode Capital Management LLC grew its holdings in shares of Allegion by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock worth $306,699,000 after buying an additional 8,023 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Allegion by 13.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock valued at $277,581,000 after acquiring an additional 232,395 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after acquiring an additional 823,874 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Up 1.4 %

Shares of NYSE ALLE opened at $126.73 on Friday. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10. The firm has a 50-day moving average price of $129.68 and a 200 day moving average price of $136.80. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE) last posted its quarterly earnings results 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 company had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. Equities research analysts anticipate that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The company 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 represents a $2.04 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.48. Allegion’s payout ratio is 29.91%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ALLE shares. Morgan Stanley boosted their target price on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Barclays dropped their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird reduced their target price 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. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, 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 report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $138.33.

Insider Buying and Selling

In related news, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the sale, the chief accounting officer now owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregg C. Sengstack bought 8,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were bought at an average price 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. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 3,224 shares of company stock worth $406,636 in the last three months. Corporate insiders own 0.33% of the company’s stock.

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.