Allegion plc (NYSE:ALLE) Director Gregg C. Sengstack Acquires 8,000 Shares of Stock

Allegion plc (NYSE:ALLE) Director Gregg C. Sengstack acquired 8,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was purchased at an average cost of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the acquisition, the director now owns 8,000 shares in the company, valued at approximately $1,001,920. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Allegion Price Performance

Allegion stock opened at $127.16 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.29 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $10.97 billion, a PE ratio of 18.64, a P/E/G ratio of 3.99 and a beta of 1.11. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The stock has a 50-day moving average price of $131.32 and a two-hundred day moving average price of $137.24.

Allegion (NYSE:ALLE) last issued 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. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The company had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. Analysts expect that Allegion plc will post 7.7 EPS for the current year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 1.60%. This is an increase 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 (DPR) is 28.15%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley upped their price objective on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday. Robert W. Baird reduced their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday. Wells Fargo & Company dropped their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Barclays dropped their target price on Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $138.33.

Hedge Funds Weigh In On Allegion

A number of hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its position in shares of Allegion by 270.6% during the fourth quarter. Mackenzie Financial Corp now owns 10,346 shares of the scientific and technical instruments company’s stock worth $1,352,000 after acquiring an additional 7,554 shares during the last quarter. Amiral Gestion bought a new stake in Allegion in the fourth quarter worth approximately $2,125,000. Waverly Advisors LLC bought a new stake in Allegion in the fourth quarter worth approximately $200,000. Woodline Partners LP bought a new stake in Allegion in the fourth quarter worth approximately $7,896,000. Finally, Sone Capital Management LLC bought a new stake in Allegion in the fourth quarter worth approximately $498,000. 92.21% of the stock is currently owned by institutional investors.

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.