LGT Group Foundation Sells 2,170 Shares of Allegion plc (NYSE:ALLE)

LGT Group Foundation decreased its position in shares of Allegion plc (NYSE:ALLE) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,109 shares of the scientific and technical instruments company’s stock after selling 2,170 shares during the period. LGT Group Foundation’s holdings in Allegion were worth $3,543,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in Allegion during the third quarter valued at $28,000. Private Trust Co. NA increased its position 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 valued at $42,000 after acquiring an additional 115 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Allegion by 33.6% during the fourth 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 during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Allegion by 207.7% in the fourth quarter. Global Retirement Partners LLC now owns 440 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 297 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Allegion by 23.2% in the fourth quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company’s stock worth $59,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Wells Fargo & Company cut their price target 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. Robert W. Baird cut their price target 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. Barclays cut their price target 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. Finally, Morgan Stanley upped their price target on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $138.33.

Allegion Stock Down 1.9 %

NYSE:ALLE opened at $126.26 on Tuesday. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a 50-day moving average of $130.46 and a 200 day moving average of $137.30. The firm has a market cap of $10.89 billion, a PE ratio of 18.51, 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 (NYSE:ALLE) last released its quarterly earnings results 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. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The business had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $938.91 million. As a group, research analysts anticipate that Allegion plc will post 7.77 EPS 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 issued a $0.51 dividend. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, March 14th. Allegion’s dividend payout ratio (DPR) is currently 29.91%.

Insider Activity

In other news, CAO Nickolas A. Musial sold 403 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the sale, the chief accounting officer now directly owns 4,972 shares in the company, valued at approximately $620,008.40. This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregg C. Sengstack bought 8,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was bought at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at $1,001,920. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

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.