Teacher Retirement System of Texas Increases Holdings in Allegion plc (NYSE:ALLE)

Teacher Retirement System of Texas boosted its holdings in shares of Allegion plc (NYSE:ALLE) by 14.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,951 shares of the scientific and technical instruments company’s stock after purchasing an additional 10,246 shares during the period. Teacher Retirement System of Texas owned about 0.09% of Allegion worth $10,317,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ALLE. Brooklyn Investment Group bought a new stake in Allegion during the 3rd quarter valued at approximately $28,000. Atala Financial Inc bought a new stake in Allegion during the 4th quarter valued at approximately $35,000. Private Trust Co. NA boosted its position in Allegion by 56.1% during 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 acquiring an additional 115 shares in the last quarter. Tortoise Investment Management LLC boosted its position in Allegion by 78.0% during 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 acquiring an additional 170 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Allegion by 33.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock valued at $53,000 after acquiring an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ALLE shares. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley lifted their price objective on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Barclays dropped their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. 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 report on Wednesday, February 19th. Finally, 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 report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $138.33.

Allegion Price Performance

Shares of NYSE ALLE opened at $127.17 on Friday. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The firm has a market cap of $10.97 billion, a P/E ratio of 18.65, a PEG ratio of 3.97 and a beta of 1.11. The company has a 50 day moving average of $129.67 and a 200 day moving average of $136.46. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32.

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

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. 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 yield of 1.60%. The ex-dividend date is Friday, March 14th. Allegion’s payout ratio is presently 29.91%.

Insider Buying and Selling

In other news, SVP David S. Ilardi sold 789 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the transaction, the senior vice president now directly owns 9,625 shares of the company’s stock, valued at $1,205,820. This represents a 7.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. The trade was 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 worth $406,636 in the last three months. 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.