Allegion plc (NYSE:ALLE) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its stake in Allegion plc (NYSE:ALLE) by 7.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,710 shares of the scientific and technical instruments company’s stock after selling 982 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Allegion were worth $1,661,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. NEOS Investment Management LLC increased its stake in Allegion by 21.9% in the 4th quarter. NEOS Investment Management LLC now owns 28,014 shares of the scientific and technical instruments company’s stock valued at $3,661,000 after purchasing an additional 5,030 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Allegion by 20.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 146,087 shares of the scientific and technical instruments company’s stock valued at $19,018,000 after buying an additional 24,478 shares in the last quarter. Korea Investment CORP raised its stake in shares of Allegion by 152.3% during the 4th quarter. Korea Investment CORP now owns 90,890 shares of the scientific and technical instruments company’s stock worth $11,878,000 after buying an additional 54,864 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Allegion by 67.7% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,822 shares of the scientific and technical instruments company’s stock worth $11,869,000 after buying an additional 36,679 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Allegion in the 4th quarter valued at about $269,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allegion

In other Allegion news, Director Gregg C. Sengstack bought 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was purchased at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the transaction, the director now owns 8,000 shares in the company, valued at $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 owns 10,273 shares in the company, valued at $1,302,000.02. The trade was a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,224 shares of company stock worth $406,636 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

ALLE has been the topic of several recent research reports. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Wells Fargo & Company lowered their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Robert W. Baird cut their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Barclays decreased their price objective on Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley boosted their target price on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $137.67.

Allegion Stock Performance

NYSE ALLE opened at $130.21 on Friday. The business’s 50-day moving average price is $129.65 and its 200 day moving average price is $136.29. 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 twelve month low of $113.27 and a twelve month high of $156.10. The company has a market capitalization of $11.24 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11.

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

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.57%. Allegion’s payout ratio is currently 29.91%.

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.