Parsons Capital Management Inc. RI Grows Stake in Allegion plc (NYSE:ALLE)

Parsons Capital Management Inc. RI lifted its position in Allegion plc (NYSE:ALLEFree Report) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,534 shares of the scientific and technical instruments company’s stock after buying an additional 1,215 shares during the period. Parsons Capital Management Inc. RI’s holdings in Allegion were worth $2,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in Allegion by 1.8% during the fourth quarter. Nordea Investment Management AB now owns 1,310,495 shares of the scientific and technical instruments company’s stock valued at $165,516,000 after purchasing an additional 23,155 shares in the last quarter. Credit Suisse AG lifted its position in Allegion by 8.2% during the second quarter. Credit Suisse AG now owns 236,720 shares of the scientific and technical instruments company’s stock valued at $28,411,000 after purchasing an additional 17,839 shares in the last quarter. Dark Forest Capital Management LP lifted its position in Allegion by 39.7% during the third quarter. Dark Forest Capital Management LP now owns 33,364 shares of the scientific and technical instruments company’s stock valued at $3,477,000 after purchasing an additional 9,476 shares in the last quarter. Spire Wealth Management raised its holdings in Allegion by 41.2% during the third quarter. Spire Wealth Management now owns 35,196 shares of the scientific and technical instruments company’s stock valued at $3,667,000 after acquiring an additional 10,272 shares during the period. Finally, Morningstar Investment Services LLC raised its holdings in Allegion by 7.9% during the third quarter. Morningstar Investment Services LLC now owns 105,262 shares of the scientific and technical instruments company’s stock valued at $10,975,000 after acquiring an additional 7,678 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Price Performance

Shares of ALLE stock traded down $1.01 during trading hours on Tuesday, hitting $131.31. The stock had a trading volume of 51,825 shares, compared to its average volume of 758,754. Allegion plc has a one year low of $95.94 and a one year high of $136.91. 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 stock’s 50-day moving average price is $130.03 and its two-hundred day moving average price is $116.63. The stock has a market capitalization of $11.50 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 4.86 and a beta of 1.14.

Allegion (NYSE:ALLEGet Free Report) last issued its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $897.40 million for the quarter, compared to analysts’ expectations of $904.17 million. During the same period in the previous year, the firm posted $1.60 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. Equities analysts forecast that Allegion plc will post 7.01 EPS for the current year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.48 per share. This is an increase from Allegion’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.46%. Allegion’s dividend payout ratio is presently 31.37%.

Insider Transactions at Allegion

In other news, VP Timothy P. Eckersley sold 5,047 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $129.99, for a total transaction of $656,059.53. Following the transaction, the vice president now owns 35,567 shares of the company’s stock, valued at approximately $4,623,354.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Robert C. Martens sold 5,391 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total transaction of $716,140.44. Following the sale, the senior vice president now owns 7,555 shares of the company’s stock, valued at $1,003,606.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Timothy P. Eckersley sold 5,047 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the sale, the vice president now directly owns 35,567 shares in the company, valued at approximately $4,623,354.33. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the topic of a number of recent analyst reports. Wells Fargo & Company cut Allegion from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $139.00 to $140.00 in a report on Wednesday, February 21st. Barclays raised their price target on Allegion from $119.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Finally, Mizuho cut Allegion from a “buy” rating to a “neutral” rating and raised their price target for the company from $140.00 to $141.00 in a report on Friday, February 23rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $125.50.

View Our Latest Analysis on ALLE

Allegion Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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