Intech Investment Management LLC Boosts Stake in Allegion plc (NYSE:ALLE)

Intech Investment Management LLC lifted its holdings in Allegion plc (NYSE:ALLE) by 782.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,954 shares of the scientific and technical instruments company’s stock after purchasing an additional 77,099 shares during the quarter. Intech Investment Management LLC’s holdings in Allegion were worth $11,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Generali Asset Management SPA SGR purchased a new stake in Allegion during the fourth quarter valued at $2,872,000. Tocqueville Asset Management L.P. increased its position in Allegion by 6.9% during the fourth quarter. Tocqueville Asset Management L.P. now owns 4,657 shares of the scientific and technical instruments company’s stock valued at $609,000 after acquiring an additional 300 shares during the last quarter. Cibc World Markets Corp increased its position in Allegion by 16.1% during the fourth quarter. Cibc World Markets Corp now owns 13,719 shares of the scientific and technical instruments company’s stock valued at $1,793,000 after acquiring an additional 1,907 shares during the last quarter. Greenwich Wealth Management LLC increased its position in Allegion by 0.8% during the fourth quarter. Greenwich Wealth Management LLC now owns 15,090 shares of the scientific and technical instruments company’s stock valued at $1,972,000 after acquiring an additional 114 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Allegion by 1.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,256 shares of the scientific and technical instruments company’s stock valued at $1,471,000 after acquiring an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In other news, SVP David S. Ilardi sold 789 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 9,625 shares of the company’s stock, valued at $1,205,820. This trade represents a 7.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 10,273 shares of the company’s stock, valued at $1,302,000.02. The trade was a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,224 shares of company stock worth $406,636. Corporate insiders own 0.33% of the company’s stock.

Allegion Stock Performance

NYSE:ALLE opened at $127.42 on Tuesday. The firm has a market capitalization of $10.99 billion, a PE ratio of 18.68, a P/E/G ratio of 3.97 and a beta of 1.11. 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 stock has a 50-day simple moving average of $129.65 and a two-hundred day simple moving average of $136.73. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The firm had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Analysts forecast that Allegion plc will post 7.77 EPS for the current year.

Allegion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. This is a positive change from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.60%. Allegion’s dividend payout ratio is 29.91%.

Wall Street Analysts Forecast Growth

ALLE has been the subject of a number of research reports. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Robert W. Baird reduced 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. Barclays reduced 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 boosted their price target on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $138.33.

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.