Quantbot Technologies LP Purchases New Position in Allegion plc (NYSE:ALLE)

Quantbot Technologies LP purchased a new stake in Allegion plc (NYSE:ALLE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,553 shares of the scientific and technical instruments company’s stock, valued at approximately $2,947,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Allegion in the 3rd quarter valued at about $28,000. Millstone Evans Group LLC acquired a new position in Allegion in the 4th quarter valued at about $28,000. Atala Financial Inc acquired a new position in Allegion in the 4th quarter valued at about $35,000. Private Trust Co. NA grew its stake in Allegion by 56.1% in the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after buying an additional 115 shares during the last quarter. Finally, Tortoise Investment Management LLC grew its stake in Allegion by 78.0% in the 4th quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock valued at $51,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of Allegion stock opened at $127.17 on Friday. The company has a 50 day moving average of $129.67 and a 200-day moving average of $136.46. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The company has a market cap of $10.97 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The business had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. As a group, equities research analysts forecast that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.60%. This is a boost from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s dividend payout ratio is currently 29.91%.

Insider Buying and Selling

In related news, SVP Tracy L. Kemp sold 2,032 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 10,273 shares in the company, valued at $1,302,000.02. This represents a 16.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David S. Ilardi sold 789 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the completion of the transaction, the senior vice president now owns 9,625 shares of the company’s stock, valued at approximately $1,205,820. This trade represents a 7.58 % 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 worth $406,636 in the last three months. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on ALLE. Morgan Stanley boosted their price objective 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. Barclays cut 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. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Wells Fargo & Company cut their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Robert W. Baird cut their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $138.33.

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.