Millstone Evans Group LLC Makes New Investment in Allegion plc (NYSE:ALLE)

Millstone Evans Group LLC acquired a new stake in Allegion plc (NYSE:ALLE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 211 shares of the scientific and technical instruments company’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brooklyn Investment Group acquired a new position in Allegion during the 3rd quarter valued at $28,000. Atala Financial Inc acquired a new position in shares of Allegion during the fourth quarter valued at about $35,000. Private Trust Co. NA grew its position in Allegion by 56.1% during the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock worth $42,000 after buying an additional 115 shares in the last quarter. Tortoise Investment Management LLC increased its stake in Allegion by 78.0% during the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock valued at $51,000 after acquiring an additional 170 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Allegion by 33.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock valued at $53,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Activity at Allegion

In other news, Director Gregg C. Sengstack purchased 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was bought at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $1,001,920. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David S. Ilardi sold 789 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the completion of the sale, the senior vice president now owns 9,625 shares of the company’s stock, valued at approximately $1,205,820. This represents a 7.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,224 shares of company stock valued at $406,636 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ALLE shares. Wells Fargo & Company decreased their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Barclays lowered their price target on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. Robert W. Baird decreased their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Morgan Stanley lifted their price objective on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, Allegion currently has an average rating of “Hold” and an average price target of $138.33.

Allegion Trading Up 2.8 %

Shares of Allegion stock opened at $130.58 on Tuesday. The stock has a market capitalization of $11.27 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The company has a 50-day simple moving average of $129.72 and a 200 day simple moving average of $136.41.

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

Allegion Increases Dividend

The business 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 1.56%. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s dividend payout ratio is 29.91%.

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.