Allegion plc (NYSE:ALLE) Shares Acquired by Heritage Family Offices LLP

Heritage Family Offices LLP lifted its stake in Allegion plc (NYSE:ALLE) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,645 shares of the scientific and technical instruments company’s stock after purchasing an additional 82 shares during the quarter. Heritage Family Offices LLP’s holdings in Allegion were worth $346,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Allegion by 1.2% during the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after acquiring an additional 49,929 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Allegion by 2.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock worth $442,019,000 after purchasing an additional 91,011 shares during the last quarter. Van ECK Associates Corp raised its stake in Allegion by 1.3% during the third quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock worth $479,577,000 after purchasing an additional 39,905 shares during the period. Geode Capital Management LLC grew its stake in shares of Allegion by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock valued at $306,699,000 after buying an additional 8,023 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Allegion by 13.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock worth $277,581,000 after buying an additional 232,395 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Up 1.0 %

Shares of ALLE opened at $131.10 on Thursday. The company’s 50-day simple moving average is $136.30 and its 200-day simple moving average is $136.17. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10. The stock has a market capitalization of $11.40 billion, a PE ratio of 20.14, a P/E/G ratio of 3.35 and a beta of 1.11.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. The company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. Allegion had a net margin of 15.36% and a return on equity of 45.64%. During the same period in the prior year, the business earned $1.94 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts forecast that Allegion plc will post 7.41 earnings per share for the current fiscal year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, December 17th. Allegion’s dividend payout ratio is currently 29.49%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ALLE shares. Mizuho upped their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company lowered their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Morgan Stanley initiated coverage on Allegion in a research report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective for the company. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Barclays reduced their price target on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $140.83.

Insider Activity

In other news, CEO John H. Stone acquired 7,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the transaction, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert C. Martens sold 8,035 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the transaction, the senior vice president now directly owns 7,104 shares in the company, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

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.