Swiss National Bank Lowers Position in Allegion plc (NYSE:ALLE)

Swiss National Bank trimmed its stake in Allegion plc (NYSE:ALLE) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 246,200 shares of the scientific and technical instruments company’s stock after selling 12,900 shares during the period. Swiss National Bank owned approximately 0.28% of Allegion worth $32,173,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Allegion during the fourth quarter valued at about $11,601,000. Avantax Advisory Services Inc. boosted its stake in Allegion by 9.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,107 shares of the scientific and technical instruments company’s stock worth $537,000 after buying an additional 365 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Allegion during the fourth quarter valued at approximately $20,913,000. Farther Finance Advisors LLC raised its stake in shares of Allegion by 12.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,162 shares of the scientific and technical instruments company’s stock worth $152,000 after acquiring an additional 132 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Allegion by 78.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,459 shares of the scientific and technical instruments company’s stock worth $321,000 after acquiring an additional 1,082 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Price Performance

Shares of Allegion stock opened at $127.42 on Tuesday. The business has a 50 day moving average of $129.65 and a 200 day moving average of $136.73. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10. The company has a market cap of $10.99 billion, a PE ratio of 18.68, a P/E/G ratio of 3.97 and a beta of 1.11. 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 posted its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The firm had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. As a group, equities research analysts forecast that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 1.60%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio is currently 29.91%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Robert W. Baird dropped their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Barclays decreased their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $138.33.

Insider Activity

In related news, SVP Tracy L. Kemp sold 2,032 shares of Allegion stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the transaction, the senior vice president now directly owns 10,273 shares of the company’s stock, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP David S. Ilardi sold 789 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 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 quarter. 0.33% of the stock is 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.