Riverwater Partners LLC Takes Position in Allegion plc (NYSE:ALLE)

Riverwater Partners LLC purchased a new position in Allegion plc (NYSE:ALLE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,327 shares of the scientific and technical instruments company’s stock, valued at approximately $304,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Millstone Evans Group LLC bought a new stake in shares of Allegion during the fourth quarter valued at approximately $28,000. Atala Financial Inc bought a new stake in Allegion during the 4th quarter valued at $35,000. Private Trust Co. NA lifted its holdings in shares of Allegion by 56.1% in the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock worth $42,000 after buying an additional 115 shares during the period. Tortoise Investment Management LLC increased its stake in shares of Allegion by 78.0% during the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock valued at $51,000 after buying an additional 170 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Allegion by 33.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock valued at $53,000 after acquiring an additional 101 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Down 2.9 %

Shares of ALLE stock opened at $123.53 on Friday. The stock’s fifty day moving average price is $129.10 and its 200 day moving average price is $135.89. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.11. The firm 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%. On average, research analysts expect that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.51 per share. The ex-dividend date was 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 dividend yield of 1.65%. Allegion’s payout ratio is 29.91%.

Insider Activity at Allegion

In other news, SVP Tracy L. Kemp sold 2,032 shares of the 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 of the company’s stock, valued at approximately $1,302,000.02. This represents a 16.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David S. Ilardi sold 789 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total value of $98,845.92. Following the completion of the transaction, the senior vice president now owns 9,625 shares of the company’s stock, valued at approximately $1,205,820. The trade was a 7.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,224 shares of company stock valued at $406,636 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the topic of several recent research reports. Morgan Stanley raised their target price on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Robert W. Baird reduced their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Barclays cut their price target on Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a report on Wednesday, March 26th. Finally, Wells Fargo & Company dropped their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, Allegion presently has a consensus rating of “Hold” and an average price target of $137.67.

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.