Tocqueville Asset Management L.P. Grows Position in Allegion plc (NYSE:ALLE)

Tocqueville Asset Management L.P. increased its position in shares of Allegion plc (NYSE:ALLE) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,657 shares of the scientific and technical instruments company’s stock after buying an additional 300 shares during the period. Tocqueville Asset Management L.P.’s holdings in Allegion were worth $609,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Allegion during the third quarter worth approximately $28,000. Atala Financial Inc acquired a new position in Allegion in the fourth quarter valued at approximately $35,000. Private Trust Co. NA boosted its holdings in Allegion by 56.1% in the fourth 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 in the last quarter. Tortoise Investment Management LLC boosted its holdings in Allegion by 78.0% in the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock valued at $51,000 after purchasing an additional 170 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings 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 valued at $53,000 after purchasing an additional 101 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Trading Up 0.7 %

Shares of ALLE stock opened at $128.81 on Thursday. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The stock has a market cap of $11.12 billion, a P/E ratio of 18.89, a P/E/G ratio of 3.97 and a beta of 1.11. The business has a fifty day simple moving average of $129.67 and a 200-day simple moving average of $136.60. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. On average, analysts forecast that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is currently 29.91%.

Insider Buying and Selling

In other Allegion news, Director Gregg C. Sengstack purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were purchased at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the purchase, the director now owns 8,000 shares in the company, valued at approximately $1,001,920. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the sale, the senior vice president now directly owns 10,273 shares in the company, valued at approximately $1,302,000.02. The trade was a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Robert W. Baird lowered their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley upped their price target on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, Barclays lowered their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $138.33.

Allegion 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.