Vaughan Nelson Investment Management L.P. Trims Position in Allegion plc (NYSE:ALLE)

Vaughan Nelson Investment Management L.P. lowered its stake in shares of Allegion plc (NYSE:ALLE) by 50.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 139,366 shares of the scientific and technical instruments company’s stock after selling 140,845 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Allegion were worth $18,213,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Stoneridge Investment Partners LLC acquired a new position in shares of Allegion in the fourth quarter valued at approximately $2,284,000. Entropy Technologies LP purchased a new position in Allegion in the 4th quarter valued at $597,000. Empowered Funds LLC acquired a new position in Allegion in the 4th quarter valued at $656,000. Lecap Asset Management Ltd. purchased a new position in Allegion during the 4th quarter worth $1,575,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Allegion by 1.7% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,791 shares of the scientific and technical instruments company’s stock worth $1,149,000 after acquiring an additional 148 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Performance

NYSE ALLE opened at $128.64 on Monday. The business has a 50 day moving average price of $133.15 and a 200 day moving average price of $137.51. The company has a market capitalization of $11.18 billion, a P/E ratio of 19.76, a PEG ratio of 3.19 and a beta of 1.11. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

Allegion Increases Dividend

The company also recently declared 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. This represents a $2.04 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.48. Allegion’s payout ratio is 29.49%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Thursday. Robert W. Baird lifted their price target on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Barclays dropped their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Finally, Morgan Stanley assumed coverage on Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $140.83.

Insider Buying and Selling

In related news, CEO John H. Stone acquired 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.33% of the company’s stock.

Allegion 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.