Nuveen Asset Management LLC Acquires 102,760 Shares of Allegion plc (NYSE:ALLE)

Nuveen Asset Management LLC grew its holdings in Allegion plc (NYSE:ALLE) by 15.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 759,977 shares of the scientific and technical instruments company’s stock after purchasing an additional 102,760 shares during the period. Nuveen Asset Management LLC owned about 0.87% of Allegion worth $99,314,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ALLE. Barclays PLC increased its holdings in shares of Allegion by 28.9% in the 3rd quarter. Barclays PLC now owns 259,793 shares of the scientific and technical instruments company’s stock worth $37,861,000 after purchasing an additional 58,268 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Allegion by 2.4% in the third quarter. Principal Financial Group Inc. now owns 122,481 shares of the scientific and technical instruments company’s stock worth $17,850,000 after acquiring an additional 2,878 shares during the period. Czech National Bank grew its holdings in shares of Allegion by 6.2% in the fourth quarter. Czech National Bank now owns 18,848 shares of the scientific and technical instruments company’s stock worth $2,463,000 after acquiring an additional 1,100 shares during the period. Park Avenue Securities LLC grew its holdings in shares of Allegion by 10.4% in the fourth quarter. Park Avenue Securities LLC now owns 3,847 shares of the scientific and technical instruments company’s stock worth $503,000 after acquiring an additional 362 shares during the period. Finally, Merit Financial Group LLC bought a new stake in shares of Allegion in the fourth quarter worth $282,000. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling at Allegion

In other news, SVP Tracy L. Kemp sold 2,032 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value 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. The trade was a 16.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregg C. Sengstack acquired 8,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was acquired at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $1,001,920. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 3,224 shares of company stock valued at $406,636. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ALLE. Wells Fargo & Company cut 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. Robert W. Baird lifted their price objective on Allegion from $144.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. Barclays lifted their price objective on Allegion from $126.00 to $128.00 and gave the stock an “underweight” rating in a report on Friday, April 25th. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Morgan Stanley lifted their price objective on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $140.40.

Allegion Stock Performance

NYSE:ALLE opened at $145.71 on Friday. The stock has a 50-day simple moving average of $130.80 and a two-hundred day simple moving average of $133.02. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The firm has a market capitalization of $12.54 billion, a PE ratio of 21.37, a P/E/G ratio of 3.97 and a beta of 1.02.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.18. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $941.90 million during the quarter, compared to analyst estimates of $918.53 million. During the same quarter in the previous year, the company posted $1.55 earnings per share. Allegion’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that Allegion plc will post 7.77 EPS for the current year.

Allegion Announces Dividend

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 issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, June 13th. Allegion’s dividend payout ratio is presently 28.65%.

Allegion Company 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.