Intermede Investment Partners Ltd lessened its stake in Allegion plc (NYSE:ALLE – Free Report) by 18.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 843,765 shares of the scientific and technical instruments company’s stock after selling 195,848 shares during the period. Allegion comprises 2.9% of Intermede Investment Partners Ltd’s portfolio, making the stock its 15th largest holding. Intermede Investment Partners Ltd’s holdings in Allegion were worth $110,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Allegion in the fourth quarter valued at approximately $11,601,000. Avantax Advisory Services Inc. boosted its stake in Allegion by 9.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,107 shares of the scientific and technical instruments company’s stock worth $537,000 after purchasing an additional 365 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Allegion during the 4th quarter worth $20,913,000. Farther Finance Advisors LLC grew its position in Allegion by 12.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,162 shares of the scientific and technical instruments company’s stock worth $152,000 after purchasing an additional 132 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Allegion by 78.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,459 shares of the scientific and technical instruments company’s stock valued at $321,000 after purchasing an additional 1,082 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Morgan Stanley boosted their price target 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 lowered Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Robert W. Baird cut their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their price objective 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. Finally, Barclays cut their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Allegion has an average rating of “Hold” and an average price target of $138.33.
Insider Activity
In related news, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm’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 of the company’s stock, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,224 shares of company stock worth $406,636. Company insiders own 0.33% of the company’s stock.
Allegion Stock Down 1.6 %
Allegion stock opened at $123.91 on Thursday. The stock’s 50 day moving average price is $129.82 and its 200 day moving average price is $136.96. The company has a market cap of $10.69 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10.
Allegion (NYSE:ALLE – Get Free Report) last issued its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. On average, sell-side analysts predict that Allegion plc will post 7.77 EPS for the current fiscal year.
Allegion Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 1.65%. Allegion’s dividend payout ratio (DPR) is 29.91%.
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.
See Also
- Five stocks we like better than Allegion
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Ramaco Resources Pins Hopes on Coal’s Untapped Potential
- 3 Best Fintech Stocks for a Portfolio Boost
- NVIDIA’s Soaring Energy Needs Make These 3 Nuclear Stocks a Buy
- What is the NASDAQ Stock Exchange?
- Why Energy Transfer Belongs on Your Watchlist
Want to see what other hedge funds are holding ALLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegion plc (NYSE:ALLE – Free Report).
Receive News & Ratings for Allegion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegion and related companies with MarketBeat.com's FREE daily email newsletter.