Allegion plc (NYSE:ALLE) Director Buys $1,001,920.00 in 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 acquired at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Allegion Price Performance

ALLE stock traded up $0.05 during trading on Friday, hitting $127.16. The company had a trading volume of 871,149 shares, compared to its average volume of 890,566. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 3.99 and a beta of 1.11. The business has a 50 day moving average of $131.32 and a 200 day moving average of $137.24. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The company has a current ratio of 2.04, a quick ratio of 1.29 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.11. The business 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%. As a group, research analysts predict that Allegion plc will post 7.7 earnings per share for the current year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date 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 yield of 1.60%. Allegion’s payout ratio is 28.15%.

Institutional Investors Weigh In On Allegion

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new stake in Allegion in the third quarter worth about $4,988,000. Sumitomo Mitsui Trust Group Inc. raised its position in Allegion by 4.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock worth $26,724,000 after acquiring an additional 8,806 shares in the last quarter. Qsemble Capital Management LP bought a new stake in Allegion in the third quarter worth about $891,000. Nordea Investment Management AB raised its position in Allegion by 4.4% in the fourth quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock worth $154,643,000 after acquiring an additional 49,176 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Allegion by 31.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 801,520 shares of the scientific and technical instruments company’s stock valued at $116,814,000 after acquiring an additional 192,609 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.