KLP Kapitalforvaltning AS Buys Shares of 43,000 Allegion plc (NYSE:ALLE)

KLP Kapitalforvaltning AS bought a new position in Allegion plc (NYSE:ALLE) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 43,000 shares of the scientific and technical instruments company’s stock, valued at approximately $5,619,000.

A number of other institutional investors and hedge funds have also modified their holdings of ALLE. Brooklyn Investment Group purchased a new stake in Allegion in the 3rd quarter worth about $28,000. Millstone Evans Group LLC purchased a new stake in shares of Allegion in the fourth quarter worth approximately $28,000. Atala Financial Inc acquired a new stake in shares of Allegion during the fourth quarter worth approximately $35,000. Private Trust Co. NA grew its position in Allegion by 56.1% during the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after purchasing an additional 115 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its position in Allegion by 78.0% during the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock valued at $51,000 after purchasing an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Price Performance

NYSE ALLE opened at $129.41 on Wednesday. The firm has a market cap of $11.17 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. The stock’s 50-day moving average is $129.72 and its two-hundred day moving average is $136.38. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week 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 issued its quarterly earnings data 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 business had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. On average, analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is an increase from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s dividend payout ratio is currently 29.91%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Robert W. Baird reduced their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company lowered their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Barclays cut their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research note on Wednesday, February 19th. Finally, 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 note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $138.33.

Insider Activity at Allegion

In other news, SVP David S. Ilardi sold 789 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the completion of the transaction, the senior vice president now directly owns 9,625 shares in the company, valued at $1,205,820. The trade was a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the transaction, the senior vice president now directly owns 10,273 shares in the company, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is owned by insiders.

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.