Picton Mahoney Asset Management Raises Stock Position in Allegion plc (NYSE:ALLE)

Picton Mahoney Asset Management grew its holdings in shares of Allegion plc (NYSE:ALLE) by 23,937.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,923 shares of the scientific and technical instruments company’s stock after buying an additional 1,915 shares during the quarter. Picton Mahoney Asset Management’s holdings in Allegion were worth $251,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Brooklyn Investment Group bought a new stake in Allegion during the third quarter worth approximately $28,000. Atala Financial Inc purchased a new position in shares of Allegion in the 4th quarter worth approximately $35,000. Private Trust Co. NA increased its position 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 valued at $42,000 after purchasing an additional 115 shares during the last quarter. Tortoise Investment Management LLC raised its holdings in Allegion by 78.0% during the 4th quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock valued at $51,000 after buying an additional 170 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Allegion by 33.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock worth $53,000 after buying an additional 101 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Up 1.4 %

Shares of NYSE:ALLE opened at $126.73 on Monday. The business’s 50 day moving average is $129.68 and its 200 day moving average is $136.80. The stock has a market cap of $10.94 billion, a P/E ratio of 18.58, 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 quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32.

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

Allegion Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is 29.91%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ALLE shares. Barclays cut their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 19th. Robert W. Baird cut their price target 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 downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Morgan Stanley upped their target price on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their price target 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. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Allegion currently has a consensus rating of “Hold” and an average target price of $138.33.

Insider Activity

In related news, SVP Tracy L. Kemp sold 2,032 shares of the business’s stock in a transaction that occurred on 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 owns 10,273 shares in the company, valued at $1,302,000.02. The trade was a 16.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregg C. Sengstack bought 8,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was purchased at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the purchase, the director now owns 8,000 shares of the company’s stock, valued at $1,001,920. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is currently 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.