Allegion plc (NYSE:ALLE) Stake Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Allegion plc (NYSE:ALLE) by 4.4% during the fourth quarter, HoldingsChannel reports. The firm owned 8,351 shares of the scientific and technical instruments company’s stock after acquiring an additional 349 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Allegion were worth $1,058,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ALLE. Boston Partners increased its stake in Allegion by 17.2% in the 3rd quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company’s stock worth $584,157,000 after purchasing an additional 825,048 shares in the last quarter. Hawk Ridge Capital Management LP purchased a new position in Allegion in the 3rd quarter worth about $53,142,000. Lord Abbett & CO. LLC increased its stake in Allegion by 183.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 774,325 shares of the scientific and technical instruments company’s stock worth $80,684,000 after purchasing an additional 500,924 shares in the last quarter. Van ECK Associates Corp increased its stake in Allegion by 20.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,773,767 shares of the scientific and technical instruments company’s stock worth $289,026,000 after purchasing an additional 467,772 shares in the last quarter. Finally, Boston Trust Walden Corp purchased a new position in Allegion in the 4th quarter worth about $30,050,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In related news, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 directly owns 35,567 shares in the company, valued at approximately $4,623,354.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO John H. Stone bought 10,000 shares of Allegion stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average cost of $132.41 per share, for a total transaction of $1,324,100.00. Following the acquisition, the chief executive officer now owns 104,248 shares in the company, valued at $13,803,477.68. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 of the company’s stock, valued at $4,623,354.33. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Allegion Stock Down 1.3 %

Shares of Allegion stock opened at $124.84 on Friday. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 4.57 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85. Allegion plc has a 52-week low of $95.94 and a 52-week high of $136.91. The stock has a 50-day simple moving average of $130.31 and a 200-day simple moving average of $119.52.

Allegion (NYSE:ALLE) last announced 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. The business had revenue of $897.40 million during the quarter, compared to analyst estimates of $904.17 million. Allegion had a return on equity of 51.95% and a net margin of 14.80%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.60 EPS. On average, equities research analysts expect that Allegion plc will post 7.02 earnings per share for the current fiscal 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 issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.92 annualized dividend and a yield of 1.54%. Allegion’s dividend payout ratio (DPR) is currently 31.37%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ALLE shares. UBS Group lifted their price target on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Barclays lifted their target price on Allegion from $121.00 to $122.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Mizuho cut Allegion from a “buy” rating to a “neutral” rating and lifted their target price for the company from $140.00 to $141.00 in a research note on Friday, February 23rd. Finally, Wells Fargo & Company cut Allegion from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $139.00 to $140.00 in a research note on Wednesday, February 21st. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Allegion has an average rating of “Hold” and a consensus target price of $127.83.

Allegion Company 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.