Sumitomo Mitsui Trust Group Inc. Buys 8,806 Shares of Allegion plc (NYSE:ALLE)

Sumitomo Mitsui Trust Group Inc. boosted its position in Allegion plc (NYSE:ALLE) by 4.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,500 shares of the scientific and technical instruments company’s stock after buying an additional 8,806 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Allegion were worth $26,724,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its holdings in shares of Allegion by 61.0% during the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 72 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in Allegion by 0.4% during the third quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock worth $2,871,000 after buying an additional 77 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in shares of Allegion by 2.9% in the third quarter. OneDigital Investment Advisors LLC now owns 2,913 shares of the scientific and technical instruments company’s stock valued at $425,000 after buying an additional 82 shares in the last quarter. Heritage Family Offices LLP grew its holdings in shares of Allegion by 3.2% during the fourth quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock valued at $346,000 after buying an additional 82 shares during the last quarter. Finally, Cromwell Holdings LLC increased its position in shares of Allegion by 65.2% during the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 92 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Stock Performance

Shares of ALLE stock opened at $131.60 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 3.19 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 firm’s 50-day simple moving average is $132.96 and its two-hundred day simple moving average is $137.56.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.51 dividend. This is an increase from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 1.55%. Allegion’s dividend payout ratio is presently 29.49%.

Insider Buying and Selling at Allegion

In other Allegion news, CEO John H. Stone purchased 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the purchase, the chief executive officer now owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This represents a 6.64 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ALLE has been the subject of a number of analyst reports. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Wells Fargo & Company decreased their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Mizuho lifted their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird increased their target price on shares of Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Barclays cut their price target on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Allegion has an average rating of “Hold” and a consensus price target of $140.83.

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.