Allegion plc (NYSE:ALLE) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in Allegion plc (NYSE:ALLE) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,436,127 shares of the scientific and technical instruments company’s stock after acquiring an additional 257,175 shares during the quarter. Van ECK Associates Corp’s holdings in Allegion were worth $449,033,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ALLE. Lord Abbett & CO. LLC increased its holdings in shares of Allegion by 96.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after purchasing an additional 823,874 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Allegion by 397.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock valued at $88,450,000 after buying an additional 484,995 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Allegion during the 3rd quarter worth about $666,840,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Allegion by 13.9% in the 3rd 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 period. Finally, FMR LLC boosted its holdings in shares of Allegion by 231.9% in the third quarter. FMR LLC now owns 290,466 shares of the scientific and technical instruments company’s stock valued at $42,333,000 after acquiring an additional 202,957 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Barclays cut their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company lowered their target price on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird upped their price target 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, Mizuho lifted their price objective on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. 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. According to data from MarketBeat.com, Allegion presently has an average rating of “Hold” and a consensus target price of $140.83.

Insiders Place Their Bets

In other news, CEO John H. Stone bought 7,500 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the purchase, the chief executive officer now directly owns 120,481 shares in the company, valued at $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Allegion Trading Down 0.3 %

Shares of NYSE ALLE opened at $131.33 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The company has a market cap of $11.42 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 3.19 and a beta of 1.11. The business has a fifty day simple moving average of $132.78 and a 200-day simple moving average of $137.52.

Allegion Increases Dividend

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

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.