Empowered Funds LLC Makes New $656,000 Investment in Allegion plc (NYSE:ALLE)

Empowered Funds LLC bought a new position in Allegion plc (NYSE:ALLE) during the fourth quarter, Holdings Channel.com reports. The firm bought 5,022 shares of the scientific and technical instruments company’s stock, valued at approximately $656,000.

Other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new position in Allegion in the third quarter worth $94,000. Creative Planning raised its stake in shares of Allegion by 9.1% during the 3rd quarter. Creative Planning now owns 11,865 shares of the scientific and technical instruments company’s stock worth $1,729,000 after purchasing an additional 988 shares during the period. Bleakley Financial Group LLC purchased a new position in shares of Allegion in the 3rd quarter worth about $205,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Allegion by 4.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock valued at $1,260,000 after buying an additional 340 shares during the period. Finally, Blue Trust Inc. increased its holdings in Allegion by 44.9% during the third quarter. Blue Trust Inc. now owns 500 shares of the scientific and technical instruments company’s stock worth $73,000 after buying an additional 155 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Allegion Stock Performance

NYSE:ALLE opened at $125.94 on Wednesday. The business’s fifty day moving average is $132.14 and its 200 day moving average is $137.42. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 3.19 and a beta of 1.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.11. Allegion had a return on equity of 45.64% and a net margin of 15.36%. Research analysts predict that Allegion plc will post 7.41 EPS for the current year.

Allegion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.62%. Allegion’s dividend payout ratio is currently 29.49%.

Insider Buying and Selling at Allegion

In related news, CEO John H. Stone acquired 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the transaction, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ALLE shares. Robert W. Baird boosted their target price on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Barclays lowered their target price on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company decreased their price objective on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley started coverage on shares of Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective on the stock. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $140.83.

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.