Prudential Financial Inc. Purchases 29,237 Shares of Allegion plc (NYSE:ALLE)

Prudential Financial Inc. increased its holdings in shares of Allegion plc (NYSE:ALLE) by 77.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,145 shares of the scientific and technical instruments company’s stock after purchasing an additional 29,237 shares during the period. Prudential Financial Inc. owned approximately 0.08% of Allegion worth $8,775,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Lord Abbett & CO. LLC grew its holdings in Allegion by 96.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after buying an additional 823,874 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Allegion during the fourth quarter worth $65,175,000. Boston Partners grew its holdings in Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock valued at $616,503,000 after buying an additional 488,390 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Allegion by 397.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock worth $88,450,000 after acquiring an additional 484,995 shares during the period. Finally, Allianz Asset Management GmbH raised its position in shares of Allegion by 312.4% in the fourth quarter. Allianz Asset Management GmbH now owns 574,012 shares of the scientific and technical instruments company’s stock worth $75,012,000 after buying an additional 434,820 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ALLE shares. Barclays lowered their price objective on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a report on Wednesday. Wells Fargo & Company decreased 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. Robert W. Baird lowered their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Morgan Stanley boosted their price objective on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $137.67.

Allegion Price Performance

ALLE opened at $128.32 on Friday. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The stock has a market cap of $11.07 billion, a P/E ratio of 18.82, a PEG ratio of 3.97 and a beta of 1.11. The business has a fifty day moving average of $129.55 and a 200 day moving average of $136.25. 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 (NYSE:ALLE) last posted its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The business had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. As a group, sell-side analysts anticipate that Allegion plc will post 7.77 EPS for the current year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 1.59%. Allegion’s dividend payout ratio (DPR) is currently 29.91%.

Insider Activity

In related news, Director Gregg C. Sengstack purchased 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were purchased at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the purchase, the director now owns 8,000 shares of the company’s stock, valued at $1,001,920. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. Insiders have sold 3,224 shares of company stock valued at $406,636 in the last ninety days. Insiders own 0.33% of the company’s stock.

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.