IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Stake in Allegion plc (NYSE:ALLE)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in Allegion plc (NYSE:ALLE) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,710 shares of the scientific and technical instruments company’s stock after selling 982 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Allegion were worth $1,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Allegion by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company’s stock worth $1,400,688,000 after buying an additional 177,808 shares during the period. Boston Partners grew its holdings in Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock worth $616,503,000 after acquiring an additional 488,390 shares in the last quarter. State Street Corp increased its position in shares of Allegion by 1.2% in the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock valued at $589,659,000 after purchasing an additional 49,929 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Allegion by 8.1% in the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock valued at $449,033,000 after purchasing an additional 257,175 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Allegion by 0.4% during the 3rd 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 purchasing an additional 8,023 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

ALLE stock opened at $130.21 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $11.24 billion, a P/E ratio of 19.09, a PEG ratio of 3.97 and a beta of 1.11. The business has a 50 day simple moving average of $129.65 and a 200-day simple moving average of $136.29. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $938.91 million. As a group, equities analysts anticipate that Allegion plc will post 7.77 EPS for the current year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.57%. Allegion’s dividend payout ratio is currently 29.91%.

Insiders Place Their Bets

In other news, Director Gregg C. Sengstack bought 8,000 shares of Allegion stock in a transaction dated Wednesday, February 19th. The stock was bought at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the purchase, the director now owns 8,000 shares of the company’s stock, valued at approximately $1,001,920. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP David S. Ilardi sold 789 shares of Allegion stock in a transaction dated 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 directly owns 9,625 shares in the company, valued at approximately $1,205,820. The trade was a 7.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ALLE has been the topic of a number of analyst reports. Wells Fargo & Company cut their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Barclays decreased their target price on Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a research note on Wednesday. Morgan Stanley increased their price target on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. 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 report on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, Allegion currently has a consensus rating of “Hold” and a consensus price target of $137.67.

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.