Allegion plc (NYSE:ALLE) Position Increased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in shares of Allegion plc (NYSE:ALLE) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,644 shares of the scientific and technical instruments company’s stock after acquiring an additional 280 shares during the period. Daiwa Securities Group Inc.’s holdings in Allegion were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Schechter Investment Advisors LLC raised its holdings in shares of Allegion by 3.9% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,554 shares of the scientific and technical instruments company’s stock worth $324,000 after acquiring an additional 97 shares in the last quarter. Huntington National Bank raised its holdings in shares of Allegion by 19.5% during the third quarter. Huntington National Bank now owns 638 shares of the scientific and technical instruments company’s stock worth $66,000 after acquiring an additional 104 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Allegion by 11.8% during the fourth quarter. Allworth Financial LP now owns 982 shares of the scientific and technical instruments company’s stock worth $124,000 after acquiring an additional 104 shares in the last quarter. iA Global Asset Management Inc. increased its position in Allegion by 5.4% during the third quarter. iA Global Asset Management Inc. now owns 2,200 shares of the scientific and technical instruments company’s stock worth $229,000 after buying an additional 112 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Allegion by 0.6% during the fourth quarter. Arizona State Retirement System now owns 24,126 shares of the scientific and technical instruments company’s stock worth $3,057,000 after buying an additional 133 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays increased their target price on shares of Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Mizuho downgraded shares of Allegion from a “buy” rating to a “neutral” rating and increased their target price for the stock from $140.00 to $141.00 in a research report on Friday, February 23rd. Wells Fargo & Company downgraded shares of Allegion from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $139.00 to $140.00 in a research report on Wednesday, February 21st. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Finally, UBS Group increased their target price on shares of Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $127.83.

Allegion Trading Down 0.3 %

Shares of NYSE:ALLE opened at $126.54 on Thursday. The company has a market cap of $11.06 billion, a P/E ratio of 20.68, a P/E/G ratio of 4.51 and a beta of 1.14. The stock’s 50-day moving average is $130.48 and its 200-day moving average is $119.49. Allegion plc has a 52-week low of $95.94 and a 52-week high of $136.91. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.85 and a current ratio of 1.26.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share (EPS) for the quarter, beating 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 company had revenue of $897.40 million for the quarter, compared to the consensus estimate of $904.17 million. During the same period last year, the business posted $1.60 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts predict that Allegion plc will post 7.02 earnings per share for the current year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion’s payout ratio is presently 31.37%.

Insider Activity at Allegion

In related news, VP Timothy P. Eckersley sold 5,047 shares of the 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 completion of the sale, the vice president now owns 35,567 shares in the company, valued at $4,623,354.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Timothy P. Eckersley sold 5,047 shares of the 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 completion of the sale, the vice president now owns 35,567 shares in the company, valued at $4,623,354.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Robert C. Martens sold 5,391 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total transaction of $716,140.44. Following the completion of the sale, the senior vice president now owns 7,555 shares of the company’s stock, valued at approximately $1,003,606.20. The disclosure for this sale can be found here. 0.90% of the stock is 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.