Heritage Investors Management Corp Takes Position in Allegion plc (NYSE:ALLE)

Heritage Investors Management Corp bought a new stake in shares of Allegion plc (NYSE:ALLE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,750 shares of the scientific and technical instruments company’s stock, valued at approximately $229,000.

A number of other institutional investors have also recently modified their holdings of the stock. TD Private Client Wealth LLC lifted its position in shares of Allegion by 0.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock valued at $2,871,000 after acquiring an additional 77 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of Allegion by 2.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock worth $425,000 after buying an additional 82 shares in the last quarter. Heritage Family Offices LLP raised its holdings in shares of Allegion by 3.2% during the 4th quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock worth $346,000 after buying an additional 82 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Allegion by 23.2% during the 4th quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company’s stock worth $59,000 after buying an additional 85 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Allegion by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 3,541 shares of the scientific and technical instruments company’s stock worth $516,000 after buying an additional 96 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Allegion

In related news, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the sale, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregg C. Sengstack bought 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the transaction, the director now owns 8,000 shares in the company, valued at $1,001,920. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Allegion Price Performance

Shares of ALLE opened at $127.50 on Friday. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The business has a 50-day simple moving average of $130.70 and a two-hundred day simple moving average of $137.32. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The stock has a market cap of $11.00 billion, a PE ratio of 18.69, a PEG ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. Analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, March 14th. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s payout ratio is 28.15%.

Wall Street Analyst Weigh In

ALLE has been the subject of a number of research analyst reports. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird lowered 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. Wells Fargo & Company lowered their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Barclays lowered their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. Finally, Morgan Stanley boosted their price target on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Allegion currently has a consensus rating of “Hold” and an average target price of $138.33.

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.