Heritage Family Offices LLP Boosts Holdings in Allegion plc (NYSE:ALLE)

Heritage Family Offices LLP boosted its stake in Allegion plc (NYSE:ALLE) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,645 shares of the scientific and technical instruments company’s stock after acquiring an additional 82 shares during the period. Heritage Family Offices LLP’s holdings in Allegion were worth $346,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ALLE. State Street Corp increased its position in shares of Allegion by 1.2% during the third quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after purchasing an additional 49,929 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Allegion by 2.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock worth $442,019,000 after buying an additional 91,011 shares during the last quarter. Van ECK Associates Corp increased its position in Allegion by 1.3% during the third quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock worth $479,577,000 after buying an additional 39,905 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Allegion by 0.4% in the third 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 acquiring an additional 8,023 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Allegion by 13.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock worth $277,581,000 after acquiring an additional 232,395 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Price Performance

Shares of NYSE ALLE opened at $131.10 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. Allegion plc has a one year low of $113.27 and a one year high of $156.10. The firm has a market capitalization of $11.40 billion, a P/E ratio of 20.14, a PEG ratio of 3.35 and a beta of 1.11. The company’s fifty day moving average is $136.30 and its two-hundred day moving average is $136.17.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.18. Allegion had a net margin of 15.36% and a return on equity of 45.64%. The company had revenue of $967.10 million for the quarter, compared to analyst estimates of $970.70 million. During the same period in the prior year, the business posted $1.94 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts forecast that Allegion plc will post 7.41 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a dividend of $0.48 per share. The ex-dividend date was Tuesday, December 17th. This represents a $1.92 annualized dividend and a yield of 1.46%. Allegion’s dividend payout ratio is presently 29.49%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ALLE shares. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays dropped their target price on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Mizuho increased their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird boosted their price objective on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company reduced their target price on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $140.83.

Insider Buying and Selling

In related news, SVP Robert C. Martens sold 8,035 shares of Allegion stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $144.92, for a total transaction of $1,164,432.20. Following the completion of the transaction, the senior vice president now directly owns 7,104 shares in the company, valued at $1,029,511.68. The trade was a 53.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John H. Stone bought 7,500 shares of the stock in a transaction on Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at $16,951,676.70. The trade was a 6.64 % increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.

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.