Fiduciary Management Inc. WI Takes $116.48 Million Position in Allegion plc (NYSE:ALLE)

Fiduciary Management Inc. WI bought a new position in shares of Allegion plc (NYSE:ALLE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 891,367 shares of the scientific and technical instruments company’s stock, valued at approximately $116,484,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Millstone Evans Group LLC acquired a new position in shares of Allegion during the fourth quarter valued at about $28,000. Atala Financial Inc bought a new position in Allegion during the fourth quarter valued at about $35,000. GeoWealth Management LLC increased its stake in Allegion by 259.3% during the fourth 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 period. Private Trust Co. NA raised its holdings in Allegion by 56.1% in the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 115 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its position in shares of Allegion by 78.0% in the 4th quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock worth $51,000 after acquiring an additional 170 shares during the period. 92.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Robert W. Baird lowered their price target on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Barclays cut their price target on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Allegion presently has a consensus rating of “Hold” and an average price target of $138.80.

Allegion Price Performance

NYSE:ALLE opened at $126.28 on Friday. The firm has a market cap of $10.90 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. The company’s 50-day moving average price is $127.36 and its two-hundred day moving average price is $134.30. 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 plc has a 12 month low of $113.27 and a 12 month high of $156.10.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 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 business had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. On average, equities analysts anticipate 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. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, June 13th. Allegion’s dividend payout ratio is currently 29.91%.

Insider Buying and Selling at Allegion

In related news, CAO Nickolas A. Musial sold 403 shares of the firm’s stock in a transaction dated 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 owns 4,972 shares in the company, valued at $620,008.40. This trade represents 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 at the SEC website. Also, Director Gregg C. Sengstack acquired 8,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was purchased at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, 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. In the last 90 days, insiders sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is currently owned by corporate insiders.

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.