Peapack Gladstone Financial Corp Sells 266 Shares of Allegion plc (NYSE:ALLE)

Peapack Gladstone Financial Corp decreased its position in shares of Allegion plc (NYSE:ALLE) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,788 shares of the scientific and technical instruments company’s stock after selling 266 shares during the period. Peapack Gladstone Financial Corp’s holdings in Allegion were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in shares of Allegion in the 4th quarter valued at $28,000. Atala Financial Inc bought a new stake in shares of Allegion during the 4th quarter worth $35,000. Private Trust Co. NA boosted its stake in Allegion by 56.1% in 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 buying an additional 115 shares in the last quarter. Tortoise Investment Management LLC grew its position in Allegion by 78.0% in 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 acquiring an additional 170 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Allegion by 33.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock worth $53,000 after acquiring an additional 101 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ALLE has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley upped their price target on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Barclays lowered their target price on Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a report on Wednesday, March 26th. Finally, Robert W. Baird cut their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, Allegion presently has an average rating of “Hold” and a consensus target price of $137.67.

Insider Transactions at Allegion

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregg C. Sengstack acquired 8,000 shares of Allegion stock in a transaction dated Wednesday, February 19th. The shares were bought at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the transaction, the director now owns 8,000 shares in the company, valued at approximately $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 3,224 shares of company stock worth $406,636 over the last three months. 0.33% of the stock is owned by company insiders.

Allegion Stock Down 2.1 %

Shares of NYSE:ALLE opened at $118.19 on Wednesday. The firm has a market cap of $10.20 billion, a P/E ratio of 17.33, a P/E/G ratio of 3.97 and a beta of 1.01. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The business has a fifty day simple moving average of $128.27 and a 200 day simple moving average of $135.34. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32.

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 (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 company had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. Analysts predict that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.51 dividend. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, March 14th. Allegion’s dividend payout ratio is currently 29.91%.

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.