Los Angeles Capital Management LLC Purchases 3,988 Shares of Allegion plc (NYSE:ALLE)

Los Angeles Capital Management LLC lifted its stake in shares of Allegion plc (NYSE:ALLE) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 213,905 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,988 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Allegion were worth $27,953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of Allegion by 1.2% during the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock valued at $589,659,000 after purchasing an additional 49,929 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Allegion by 8.1% during the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock valued at $449,033,000 after purchasing an additional 257,175 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Allegion by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock valued at $306,699,000 after purchasing an additional 8,023 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Allegion by 13.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock valued at $277,581,000 after purchasing an additional 232,395 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after purchasing an additional 823,874 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALLE shares. Morgan Stanley boosted their target price 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. Robert W. Baird reduced their target price 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. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays reduced their target price 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, Wells Fargo & Company reduced their target price 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $138.33.

Allegion Stock Up 1.6 %

Shares of NYSE ALLE opened at $130.01 on Wednesday. The company has a market capitalization of $11.22 billion, a P/E ratio of 19.06, 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. The company’s 50 day moving average price is $130.90 and its 200-day moving average price is $137.37.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) 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 company had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Equities analysts forecast that Allegion plc will post 7.77 earnings per share 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 given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Friday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.48. Allegion’s payout ratio is presently 28.15%.

Insider Activity at Allegion

In other Allegion news, CAO Nickolas A. Musial sold 403 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the sale, the chief accounting officer now owns 4,972 shares in the company, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John H. Stone purchased 7,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the purchase, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. This represents a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is owned by corporate 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.