Allegion plc (NYSE:ALLE) Shares Sold by Intermede Investment Partners Ltd

Intermede Investment Partners Ltd lessened its stake in Allegion plc (NYSE:ALLE) 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) 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.