Truist Financial Corp Boosts Stock Position in Allegion plc (NYSE:ALLE)

Truist Financial Corp raised its stake in Allegion plc (NYSE:ALLE) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,984 shares of the scientific and technical instruments company’s stock after purchasing an additional 146 shares during the period. Truist Financial Corp owned 0.06% of Allegion worth $6,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its stake in Allegion by 343.4% in the fourth quarter. CIBC Asset Management Inc now owns 108,289 shares of the scientific and technical instruments company’s stock valued at $14,114,000 after purchasing an additional 83,865 shares during the last quarter. Sanctuary Advisors LLC grew its stake in Allegion by 9.9% in the fourth quarter. Sanctuary Advisors LLC now owns 20,745 shares of the scientific and technical instruments company’s stock valued at $2,770,000 after purchasing an additional 1,874 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Allegion during the fourth quarter worth about $2,124,000. New York State Teachers Retirement System grew its stake in shares of Allegion by 8.6% during the fourth quarter. New York State Teachers Retirement System now owns 78,497 shares of the scientific and technical instruments company’s stock worth $10,258,000 after acquiring an additional 6,213 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of Allegion by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 34,030 shares of the scientific and technical instruments company’s stock worth $4,491,000 after acquiring an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 0.0 %

Allegion stock opened at $127.16 on Friday. The company has a quick ratio of 1.29, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. The stock has a 50-day moving average price of $131.09 and a 200 day moving average price of $137.31.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping 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 firm had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. Sell-side analysts anticipate that Allegion plc will post 7.77 EPS for the current year.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 1.60%. Allegion’s payout ratio is presently 28.15%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ALLE. Robert W. Baird dropped their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday. Barclays dropped their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Wells Fargo & Company dropped their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley boosted their price target on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $138.33.

Insider Buying and Selling at Allegion

In related news, CEO John H. Stone purchased 7,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was bought at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares of the company’s stock, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gregg C. Sengstack purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was bought at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at $1,001,920. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

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.