Independent Advisor Alliance Purchases New Shares in Allegion plc (NYSE:ALLE)

Independent Advisor Alliance acquired a new position in Allegion plc (NYSE:ALLE) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,644 shares of the scientific and technical instruments company’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALLE. Brooklyn Investment Group bought a new position in shares of Allegion in the 3rd quarter worth about $28,000. Private Trust Co. NA increased its stake in shares of Allegion by 56.1% during the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after purchasing an additional 115 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Allegion by 33.6% during 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 purchasing an additional 101 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Allegion by 207.7% in the 4th quarter. Global Retirement Partners LLC now owns 440 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 297 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in shares of Allegion by 23.2% in the 4th quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company’s stock worth $59,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ALLE shares. Morgan Stanley boosted their target price on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Wells Fargo & Company dropped their target price on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Barclays decreased their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. Robert W. Baird reduced their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $138.33.

Allegion Stock Performance

Shares of ALLE opened at $128.81 on Thursday. The firm has a market capitalization of $11.12 billion, a P/E ratio of 18.89, a PEG ratio of 3.97 and a beta of 1.11. 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 plc has a one year low of $113.27 and a one year high of $156.10. The business has a fifty day moving average of $129.67 and a 200 day moving average of $136.60.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. As a group, 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. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend 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%.

Insider Activity

In other Allegion news, SVP Tracy L. Kemp sold 2,032 shares of Allegion stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the transaction, the senior vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This trade represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,224 shares of company stock valued at $406,636 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Allegion Company 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.