Allegion plc (NYSE:ALLE) SVP Sells $257,535.68 in Stock

Allegion plc (NYSE:ALLE) SVP Tracy L. Kemp sold 2,032 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the sale, the senior vice president now directly owns 10,273 shares of the company’s stock, valued at approximately $1,302,000.02. This represents a 16.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Allegion Stock Performance

Shares of ALLE stock traded down $2.05 during trading hours on Wednesday, reaching $123.91. The stock had a trading volume of 1,048,315 shares, compared to its average volume of 714,008. The firm has a market capitalization 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 firm has a 50-day simple moving average of $129.82 and a 200-day simple moving average of $136.96. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. 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 (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. As a group, equities analysts forecast that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.65%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. Allegion’s dividend payout ratio (DPR) is 29.91%.

Institutional Trading of Allegion

Institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group bought a new stake in shares of Allegion in the 3rd quarter worth $28,000. Millstone Evans Group LLC bought a new stake in Allegion during the fourth quarter worth approximately $28,000. Colonial Trust Co SC grew its position in Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 164 shares during the last quarter. Atala Financial Inc bought a new position in shares of Allegion in the fourth quarter valued at $35,000. Finally, GeoWealth Management LLC lifted its position in shares of Allegion by 259.3% during the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 223 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALLE. Robert W. Baird decreased their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Barclays decreased their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley boosted their price objective on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their target price on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.