NFJ Investment Group LLC Reduces Stake in Allegion plc (NYSE:ALLE)

NFJ Investment Group LLC lessened its stake in shares of Allegion plc (NYSE:ALLE) by 3.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,993 shares of the scientific and technical instruments company’s stock after selling 5,008 shares during the quarter. NFJ Investment Group LLC owned about 0.16% of Allegion worth $17,772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALLE. Millstone Evans Group LLC bought a new stake in Allegion during the 4th quarter worth approximately $28,000. Atala Financial Inc bought a new position in shares of Allegion in the fourth quarter worth $35,000. Private Trust Co. NA raised its position in shares of Allegion by 56.1% in 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 boosted 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 buying an additional 170 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Allegion by 33.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock worth $53,000 after buying an additional 101 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 sale, the senior vice president now owns 9,625 shares of the company’s stock, valued at approximately $1,205,820. The trade was a 7.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the transaction, the senior vice president now directly owns 10,273 shares of the company’s stock, valued at approximately $1,302,000.02. The trade was a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,224 shares of company stock valued at $406,636 over the last ninety days. 0.33% of the stock is owned by insiders.

Allegion Stock Up 0.5 %

Shares of NYSE:ALLE opened at $126.96 on Wednesday. The stock has a market capitalization of $10.96 billion, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. The stock’s 50-day moving average price is $127.62 and its 200-day moving average price is $134.63. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10.

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, topping the consensus estimate of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. On average, equities analysts anticipate that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.61%. Allegion’s dividend payout ratio is currently 29.91%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ALLE shares. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Robert W. Baird cut their price target 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. Wells Fargo & Company lowered their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Barclays cut their target price on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a research report on Wednesday, March 26th. Finally, Morgan Stanley raised their price target on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $137.67.

Allegion Company 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.