Lazard Asset Management LLC Has $22.56 Million Stake in Allegion plc (NYSE:ALLE)

Lazard Asset Management LLC boosted its stake in Allegion plc (NYSE:ALLE) by 341.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,646 shares of the scientific and technical instruments company’s stock after buying an additional 133,509 shares during the quarter. Lazard Asset Management LLC owned approximately 0.20% of Allegion worth $22,560,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Allegion by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company’s stock worth $1,400,688,000 after purchasing an additional 177,808 shares in the last quarter. Boston Partners lifted its stake in shares of Allegion by 11.6% during the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock valued at $616,503,000 after acquiring an additional 488,390 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Allegion by 1.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company’s stock valued at $509,313,000 after acquiring an additional 38,377 shares during the period. Van ECK Associates Corp lifted its stake in shares of Allegion by 8.1% during the fourth quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock valued at $449,033,000 after acquiring an additional 257,175 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Allegion by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company’s stock valued at $280,607,000 after acquiring an additional 41,417 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Down 0.6%

Shares of Allegion stock opened at $142.91 on Wednesday. The business’s 50 day simple moving average is $130.08 and its 200 day simple moving average is $132.89. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The firm has a market cap of $12.30 billion, a PE ratio of 20.95, a P/E/G ratio of 3.97 and a beta of 1.02. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.18. The business had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Allegion’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.55 EPS. On average, analysts predict that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 1.43%. Allegion’s dividend payout ratio is 28.65%.

Insider Buying and Selling at Allegion

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

Analysts Set New Price Targets

ALLE has been the topic of several research reports. Barclays upped their price target on Allegion from $126.00 to $128.00 and gave the company an “underweight” rating in a research note on Friday, April 25th. Robert W. Baird upped their price target on Allegion from $144.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. 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 report on Wednesday, February 19th. Finally, Morgan Stanley upped their price objective on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $140.40.

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.