Sterling Capital Management LLC Has $5.92 Million Stock Holdings in Allegion plc (NYSE:ALLE)

Sterling Capital Management LLC lifted its position in shares of Allegion plc (NYSE:ALLE) by 1,258.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,311 shares of the scientific and technical instruments company’s stock after buying an additional 41,976 shares during the quarter. Sterling Capital Management LLC owned about 0.05% of Allegion worth $5,921,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Allegion in the fourth quarter worth $108,058,000. Lord Abbett & CO. LLC grew its stake in Allegion by 96.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after buying an additional 823,874 shares in the last quarter. Raymond James Financial Inc. bought a new position in Allegion in the 4th quarter valued at about $65,175,000. Boston Partners raised its position in shares of Allegion by 11.6% in the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock valued at $616,503,000 after buying an additional 488,390 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Allegion by 312.4% during the 4th quarter. Allianz Asset Management GmbH now owns 574,012 shares of the scientific and technical instruments company’s stock worth $75,012,000 after acquiring an additional 434,820 shares during the period. Institutional investors own 92.21% of the company’s stock.

Insiders Place Their Bets

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the business’s 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 transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. The trade was a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregg C. Sengstack acquired 8,000 shares of Allegion stock in a transaction on Wednesday, February 19th. The shares were purchased at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the acquisition, the director now owns 8,000 shares of the company’s stock, valued at $1,001,920. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 3,224 shares of company stock worth $406,636. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Robert W. Baird decreased 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. Wells Fargo & Company dropped their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Barclays lowered their target price on Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $137.67.

Allegion Trading Up 2.4 %

Shares of ALLE stock opened at $125.02 on Friday. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The stock’s fifty day simple moving average is $127.72 and its 200 day simple moving average is $134.87. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $10.79 billion, a P/E ratio of 18.33, a P/E/G ratio of 3.97 and a beta of 1.01.

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 (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.11. The firm had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. As a group, sell-side analysts predict that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 1.63%. 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.