Mitsubishi UFJ Asset Management Co. Ltd. Cuts Position in Allegion plc (NYSE:ALLE)

Mitsubishi UFJ Asset Management Co. Ltd. reduced its holdings in shares of Allegion plc (NYSE:ALLEFree Report) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,012 shares of the scientific and technical instruments company’s stock after selling 144 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of Allegion worth $10,451,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Boston Partners lifted its position in Allegion by 17.2% during the 3rd quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company’s stock worth $584,157,000 after acquiring an additional 825,048 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Allegion by 3.9% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,218,915 shares of the scientific and technical instruments company’s stock worth $335,411,000 after purchasing an additional 119,954 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Allegion by 15.9% during the fourth quarter. Van ECK Associates Corp now owns 3,215,649 shares of the scientific and technical instruments company’s stock worth $407,391,000 after purchasing an additional 441,882 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Allegion by 11.7% in the third quarter. Invesco Ltd. now owns 1,467,586 shares of the scientific and technical instruments company’s stock valued at $152,922,000 after purchasing an additional 153,806 shares during the period. Finally, Deutsche Bank AG grew its holdings in Allegion by 0.3% during the 3rd quarter. Deutsche Bank AG now owns 1,360,639 shares of the scientific and technical instruments company’s stock valued at $141,779,000 after purchasing an additional 4,332 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Performance

Allegion stock opened at $124.43 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.31 and a quick ratio of 0.87. The company has a market cap of $10.88 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 4.47 and a beta of 1.14. Allegion plc has a fifty-two week low of $95.94 and a fifty-two week high of $136.91. The firm’s 50 day simple moving average is $128.67 and its 200-day simple moving average is $122.16.

Allegion (NYSE:ALLEGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. Allegion had a return on equity of 48.58% and a net margin of 14.93%. The firm had revenue of $893.90 million during the quarter, compared to the consensus estimate of $888.27 million. During the same period in the prior year, the business earned $1.58 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities research analysts predict that Allegion plc will post 7.08 EPS for the current year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.92 annualized dividend and a dividend yield of 1.54%. Allegion’s dividend payout ratio is 31.32%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALLE. Wells Fargo & Company downgraded Allegion from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $139.00 to $140.00 in a research note on Wednesday, February 21st. Mizuho lowered Allegion from a “buy” rating to a “neutral” rating and upped their target price for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Barclays increased their target price on Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Finally, UBS Group increased their target price on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $127.83.

Get Our Latest Stock Report on ALLE

Insider Buying and Selling at Allegion

In other news, VP Timothy P. Eckersley sold 5,047 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $129.99, for a total transaction of $656,059.53. Following the completion of the sale, the vice president now directly owns 35,567 shares of the company’s stock, valued at approximately $4,623,354.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Timothy P. Eckersley sold 5,047 shares of Allegion stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the transaction, the vice president now owns 35,567 shares of the company’s stock, valued at $4,623,354.33. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Robert C. Martens sold 5,391 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total transaction of $716,140.44. Following the sale, the senior vice president now directly owns 7,555 shares of the company’s stock, valued at $1,003,606.20. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

About Allegion

(Free Report)

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.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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