Mitsubishi UFJ Trust & Banking Corp Boosts Stock Position in Allegion plc (NYSE:ALLE)

Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Allegion plc (NYSE:ALLE) by 67.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,822 shares of the scientific and technical instruments company’s stock after purchasing an additional 36,679 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Allegion were worth $11,869,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brooklyn Investment Group bought a new position in Allegion in the 3rd quarter worth $28,000. Millstone Evans Group LLC purchased a new stake in Allegion in the fourth quarter worth about $28,000. Atala Financial Inc bought a new stake in Allegion during the 4th quarter valued at approximately $35,000. Private Trust Co. NA grew its holdings in shares of Allegion by 56.1% during the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock worth $42,000 after acquiring an additional 115 shares during the period. Finally, Tortoise Investment Management LLC raised its position 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 worth $51,000 after acquiring an additional 170 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays reduced their price target on Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a research note on Wednesday. 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 research report on Wednesday, February 19th. Robert W. Baird lowered their price target on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Morgan Stanley upped their price objective 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. Finally, StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a report 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $137.67.

Allegion Stock Performance

Shares of ALLE stock opened at $128.32 on Friday. 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 has a market capitalization of $11.07 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. Allegion plc has a one year low of $113.27 and a one year high of $156.10. The company’s 50-day moving average is $129.55 and its 200 day moving average is $136.25.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.11. The company had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. Sell-side analysts expect that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend 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 dividend yield of 1.59%. Allegion’s dividend payout ratio (DPR) is 29.91%.

Insider Buying and Selling

In related news, Director Gregg C. Sengstack bought 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were bought at an average price 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 of the company’s stock, valued at $1,001,920. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the chief accounting officer now owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is owned by corporate insiders.

Allegion 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.