State of Tennessee Department of Treasury Grows Stock Position in Allegion plc (NYSE:ALLE)

State of Tennessee Department of Treasury boosted its position in shares of Allegion plc (NYSE:ALLE) by 62.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,843 shares of the scientific and technical instruments company’s stock after buying an additional 27,986 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Allegion were worth $9,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Fiduciary Management Inc. WI bought a new stake in shares of Allegion during the 4th quarter worth approximately $116,484,000. Norges Bank bought a new stake in shares of Allegion during the fourth quarter worth $108,058,000. Lord Abbett & CO. LLC boosted its stake in shares of Allegion by 96.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after purchasing an additional 823,874 shares during the period. Raymond James Financial Inc. bought a new position in shares of Allegion in the fourth quarter worth about $65,175,000. Finally, Boston Partners increased its stake in Allegion by 11.6% in the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock worth $616,503,000 after buying an additional 488,390 shares during the period. Institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

ALLE has been the topic of a number of research reports. Wells Fargo & Company reduced their target price 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. Morgan Stanley lifted their target price on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Robert W. Baird decreased their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Barclays dropped their target price on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $138.80.

Allegion Trading Down 0.3 %

ALLE opened at $126.40 on Thursday. 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 firm has a market cap of $10.89 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 3.97 and a beta of 1.01. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The stock has a fifty day moving average price of $126.93 and a 200-day moving average price of $133.88.

Allegion (NYSE:ALLE) last announced its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $938.91 million. As a group, equities research analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.61%. Allegion’s dividend payout ratio is presently 29.91%.

Insider Transactions at Allegion

In other Allegion news, Director Gregg C. Sengstack purchased 8,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was acquired at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the acquisition, the director now owns 8,000 shares in the company, valued at $1,001,920. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Tracy L. Kemp sold 2,032 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the transaction, the senior vice president now owns 10,273 shares in the company, valued at approximately $1,302,000.02. This trade represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock valued at $406,636 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

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.