Allegion plc (NYSE:ALLE) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd cut its stake in shares of Allegion plc (NYSE:ALLE) by 8.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 995,610 shares of the scientific and technical instruments company’s stock after selling 93,767 shares during the period. Ninety One UK Ltd’s holdings in Allegion were worth $126,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of Allegion by 15.8% during the first quarter. BlackRock Inc. now owns 8,631,077 shares of the scientific and technical instruments company’s stock valued at $921,195,000 after acquiring an additional 1,176,087 shares in the last quarter. Boston Partners boosted its holdings in Allegion by 17.2% in the third quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company’s stock valued at $584,157,000 after purchasing an additional 825,048 shares during the last quarter. State Street Corp grew its stake in Allegion by 4.8% during the 2nd quarter. State Street Corp now owns 3,871,806 shares of the scientific and technical instruments company’s stock valued at $464,694,000 after purchasing an additional 176,973 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Allegion by 3.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,218,915 shares of the scientific and technical instruments company’s stock worth $335,411,000 after purchasing an additional 119,954 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Allegion by 20.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,773,767 shares of the scientific and technical instruments company’s stock worth $289,026,000 after purchasing an additional 467,772 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at Allegion

In related news, VP Timothy P. Eckersley sold 5,047 shares of Allegion stock in a transaction on Monday, March 11th. The stock was sold at an average price of $129.99, for a total value of $656,059.53. Following the transaction, the vice president now directly owns 35,567 shares in the company, valued at approximately $4,623,354.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Timothy P. Eckersley sold 5,047 shares of Allegion stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the transaction, the vice president now directly owns 35,567 shares of the company’s stock, valued at $4,623,354.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John H. Stone purchased 10,000 shares of Allegion stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the transaction, the chief executive officer now owns 104,248 shares in the company, valued at approximately $13,803,477.68. The disclosure for this purchase can be found here. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Allegion Price Performance

Shares of NYSE ALLE traded down $0.39 during mid-day trading on Thursday, reaching $125.39. 206,242 shares of the company traded hands, compared to its average volume of 714,625. The stock has a fifty day simple moving average of $131.04 and a 200-day simple moving average of $118.70. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85. The firm has a market cap of $10.98 billion, a PE ratio of 20.55, a price-to-earnings-growth 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.

Allegion (NYSE:ALLE) last announced its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. Allegion had a return on equity of 51.95% and a net margin of 14.80%. The business had revenue of $897.40 million during the quarter, compared to analysts’ expectations of $904.17 million. During the same quarter last year, the business posted $1.60 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Allegion plc will post 7.01 EPS for the current fiscal year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.48 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.92 annualized dividend and a yield of 1.53%. Allegion’s dividend payout ratio (DPR) is 31.37%.

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.