Ieq Capital LLC Raises Stock Position in Allegion plc (NYSE:ALLE)

Ieq Capital LLC raised its holdings in Allegion plc (NYSE:ALLE) by 558.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 23,571 shares of the scientific and technical instruments company’s stock after acquiring an additional 19,990 shares during the period. Ieq Capital LLC’s holdings in Allegion were worth $3,080,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC lifted its holdings in Allegion by 0.4% in the third quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock valued at $2,871,000 after acquiring an additional 77 shares during the period. OneDigital Investment Advisors LLC increased its holdings in shares of Allegion by 2.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock valued at $425,000 after purchasing an additional 82 shares in the last quarter. Heritage Family Offices LLP lifted its stake in shares of Allegion by 3.2% in the 4th quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock valued at $346,000 after purchasing an additional 82 shares during the period. Cromwell Holdings LLC boosted its holdings in Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 92 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in Allegion by 2.8% during the third quarter. Captrust Financial Advisors now owns 3,541 shares of the scientific and technical instruments company’s stock valued at $516,000 after buying an additional 96 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Allegion

In related news, CEO John H. Stone purchased 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Nickolas A. Musial sold 403 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Allegion Price Performance

Shares of Allegion stock opened at $127.16 on Friday. The stock has a market capitalization of $10.97 billion, a P/E ratio of 18.64, a PEG ratio of 3.97 and a beta of 1.11. The business has a 50 day simple moving average of $131.09 and a two-hundred day simple moving average of $137.31. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.29.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating 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 firm had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. As a group, analysts predict that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 1.60%. Allegion’s payout ratio is presently 28.15%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday. Robert W. Baird reduced their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays dropped their price objective on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Morgan Stanley lifted 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. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, Allegion presently has an average rating of “Hold” and an average target price of $138.33.

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.