Pictet Asset Management Holding SA Sells 55,860 Shares of Allegion plc (NYSE:ALLE)

Pictet Asset Management Holding SA lowered its stake in Allegion plc (NYSE:ALLE) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,312,111 shares of the scientific and technical instruments company’s stock after selling 55,860 shares during the period. Pictet Asset Management Holding SA owned approximately 1.51% of Allegion worth $171,467,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALLE. Brooklyn Investment Group bought a new position in Allegion in the 3rd quarter valued at about $28,000. Millstone Evans Group LLC bought a new position in Allegion in the fourth quarter valued at approximately $28,000. Atala Financial Inc acquired a new position in Allegion during the fourth quarter valued at approximately $35,000. Private Trust Co. NA lifted its stake in 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 worth $42,000 after purchasing an additional 115 shares during the last quarter. Finally, Tortoise Investment Management LLC boosted its holdings in shares of 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 purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analysts Set New Price Targets

ALLE has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Barclays dropped their target price on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a report on Wednesday. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Robert W. Baird dropped their price objective on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company cut 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 report on Wednesday, February 19th. One 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 company has an average rating of “Hold” and a consensus price target of $137.67.

Allegion Trading Down 1.4 %

Shares of NYSE ALLE opened at $128.32 on Friday. The firm has a 50 day moving average price of $129.55 and a two-hundred day moving average price of $136.25. The stock has a market cap of $11.07 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04.

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

Allegion Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.59%. Allegion’s dividend payout ratio is presently 29.91%.

Insider Buying and Selling at Allegion

In related news, SVP David S. Ilardi sold 789 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 9,625 shares of the company’s stock, valued at $1,205,820. This trade represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of the business’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 value 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 approximately $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. In the last 90 days, insiders sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is currently owned by company insiders.

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.