Daiwa Securities Group Inc. Grows Stock Holdings in Allegion plc (NYSE:ALLE)

Daiwa Securities Group Inc. grew its stake in Allegion plc (NYSE:ALLE) by 73.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,761 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,950 shares during the period. Daiwa Securities Group Inc.’s holdings in Allegion were worth $2,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in Allegion by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 122,481 shares of the scientific and technical instruments company’s stock valued at $17,850,000 after buying an additional 2,878 shares in the last quarter. Assetmark Inc. boosted its position in shares of Allegion by 8.9% during the 3rd quarter. Assetmark Inc. now owns 9,112 shares of the scientific and technical instruments company’s stock valued at $1,328,000 after acquiring an additional 743 shares during the last quarter. Covestor Ltd grew its holdings in shares of Allegion by 29.1% in the third quarter. Covestor Ltd now owns 617 shares of the scientific and technical instruments company’s stock valued at $90,000 after purchasing an additional 139 shares during the period. Versor Investments LP acquired a new stake in Allegion during the third quarter worth about $627,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Allegion by 1.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 195,694 shares of the scientific and technical instruments company’s stock worth $28,520,000 after purchasing an additional 2,329 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ALLE shares. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Barclays lowered their price objective on Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Morgan Stanley lifted their target price on 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 decreased their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, 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 research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $138.33.

Insider Transactions at Allegion

In other news, SVP Tracy L. Kemp sold 2,032 shares of the company’s stock in a transaction on 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 approximately $1,302,000.02. This represents a 16.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gregg C. Sengstack purchased 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were bought at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at $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 90 days, insiders have sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is currently owned by company insiders.

Allegion Price Performance

ALLE stock opened at $124.96 on Friday. The business’s fifty day moving average price is $129.75 and its 200 day moving average price is $136.88. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The company has a market capitalization of $10.78 billion, a PE ratio of 18.32, a P/E/G ratio of 3.97 and a beta of 1.11. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The company had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. On average, 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 $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is currently 29.91%.

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.