Raymond James Financial Inc. Invests $65.18 Million in Allegion plc (NYSE:ALLE)

Raymond James Financial Inc. purchased a new position in Allegion plc (NYSE:ALLE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 498,739 shares of the scientific and technical instruments company’s stock, valued at approximately $65,175,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALLE. Brooklyn Investment Group bought a new position in Allegion in the 3rd quarter worth $28,000. Private Trust Co. NA raised its holdings in Allegion by 56.1% in the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 115 shares during the period. Smartleaf Asset Management LLC raised its holdings in Allegion by 33.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock worth $53,000 after purchasing an additional 101 shares during the period. Global Retirement Partners LLC raised its holdings in Allegion by 207.7% in the 4th quarter. Global Retirement Partners LLC now owns 440 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 297 shares during the period. Finally, IFP Advisors Inc raised its holdings in Allegion by 23.2% in the 4th quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company’s stock worth $59,000 after purchasing an additional 85 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Trading Up 0.9 %

ALLE opened at $132.43 on Tuesday. The firm has a market cap of $11.43 billion, a P/E ratio of 19.42, a P/E/G ratio of 3.97 and a beta of 1.11. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. 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 stock has a 50-day moving average of $130.05 and a 200 day moving average of $137.13.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. As a group, research analysts forecast that Allegion plc will post 7.77 EPS for the current year.

Allegion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, March 14th. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s payout ratio is 29.91%.

Analysts Set New Price Targets

A number of brokerages recently commented on ALLE. Robert W. Baird decreased their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Barclays decreased their target price on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley raised their price target on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $138.33.

Insider Buying and Selling at Allegion

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the transaction, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP David S. Ilardi sold 789 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the transaction, the senior vice president now owns 9,625 shares of the company’s stock, valued at $1,205,820. This trade represents a 7.58 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

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.