Allegion plc (NYSE:ALLE) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its stake in Allegion plc (NYSE:ALLE) by 42.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 701,741 shares of the scientific and technical instruments company’s stock after selling 515,276 shares during the quarter. Bank of America Corp DE owned about 0.81% of Allegion worth $91,704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Douglass Winthrop Advisors LLC boosted its position in shares of Allegion by 0.4% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company’s stock worth $2,911,000 after buying an additional 80 shares during the period. Heritage Family Offices LLP boosted its position in shares of Allegion by 3.2% during the fourth quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock worth $346,000 after buying an additional 82 shares during the period. Waterloo Capital L.P. boosted its position in shares of Allegion by 1.2% during the fourth quarter. Waterloo Capital L.P. now owns 7,180 shares of the scientific and technical instruments company’s stock worth $938,000 after buying an additional 83 shares during the period. IFP Advisors Inc boosted its position in shares of Allegion by 23.2% during the fourth quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company’s stock worth $59,000 after buying an additional 85 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of 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 buying an additional 101 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Transactions at Allegion

In related news, CAO Nickolas A. Musial sold 403 shares of the business’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. The trade was a 7.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the transaction, the senior vice president now owns 10,273 shares in the company, valued at $1,302,000.02. This trade represents a 16.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,224 shares of company stock worth $406,636. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALLE. Wells Fargo & Company decreased their target price on 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 lowered Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Barclays lifted their target price on Allegion from $126.00 to $128.00 and gave the company an “underweight” rating in a report on Friday, April 25th. Robert W. Baird lifted their target price on Allegion from $144.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Finally, Morgan Stanley lifted their target price 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 issued a hold rating to the company’s stock. According to MarketBeat.com, Allegion has a consensus rating of “Hold” and a consensus target price of $140.40.

Allegion Stock Up 0.5%

Allegion stock opened at $141.60 on Monday. Allegion plc has a fifty-two week low of $113.27 and a fifty-two 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 company has a market capitalization of $12.18 billion, a P/E ratio of 20.76, a PEG ratio of 3.97 and a beta of 1.02. The stock has a 50-day simple moving average of $129.74 and a 200-day simple moving average of $132.88.

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

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.44%. Allegion’s dividend payout ratio (DPR) is presently 28.65%.

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.