Sequoia Financial Advisors LLC Purchases 1,082 Shares of Allegion plc (NYSE:ALLE)

Sequoia Financial Advisors LLC grew its position in shares of Allegion plc (NYSE:ALLE) by 78.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,459 shares of the scientific and technical instruments company’s stock after buying an additional 1,082 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Allegion were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. State Street Corp raised its holdings in shares of Allegion by 1.2% in the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after purchasing an additional 49,929 shares during the period. Van ECK Associates Corp raised its holdings in shares of Allegion by 8.1% in the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after purchasing an additional 257,175 shares during the period. Geode Capital Management LLC raised its holdings in shares of Allegion by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock worth $306,699,000 after purchasing an additional 8,023 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Allegion by 13.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock worth $277,581,000 after purchasing an additional 232,395 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Allegion by 96.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after purchasing an additional 823,874 shares during the period. Institutional investors own 92.21% of the company’s stock.

Insider Activity

In related news, SVP David S. Ilardi sold 789 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the completion of the transaction, the senior vice president now directly owns 9,625 shares in the company, valued at approximately $1,205,820. The trade was a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the transaction, the senior vice president now owns 10,273 shares of the company’s stock, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock worth $406,636 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Allegion Stock Up 0.7 %

ALLE opened at $128.81 on Thursday. The company has a fifty day moving average price of $129.67 and a 200-day moving average price of $136.60. The firm has a market capitalization of $11.12 billion, a P/E ratio of 18.89, a price-to-earnings-growth 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.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating 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 net margin of 15.84% and a return on equity of 45.12%. Equities research analysts expect that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s payout ratio is 29.91%.

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.