Envestnet Portfolio Solutions Inc. Raises Stake in Allegion plc (NYSE:ALLE)

Envestnet Portfolio Solutions Inc. lifted its position in Allegion plc (NYSE:ALLE) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,256 shares of the scientific and technical instruments company’s stock after purchasing an additional 110 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Allegion were worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lord Abbett & CO. LLC increased its stake in Allegion by 96.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after buying an additional 823,874 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Allegion in the 4th quarter valued at $65,175,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 worth $88,450,000 after purchasing an additional 484,995 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Allegion by 312.4% during the 4th quarter. Allianz Asset Management GmbH now owns 574,012 shares of the scientific and technical instruments company’s stock valued at $75,012,000 after purchasing an additional 434,820 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Allegion by 8.1% during the fourth quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock valued at $449,033,000 after purchasing an additional 257,175 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALLE has been the subject of a number of research reports. Robert W. Baird dropped their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley raised their target price on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Wells Fargo & Company reduced their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Barclays decreased their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. Finally, StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $138.33.

Insider Transactions at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the sale, the senior vice president now owns 10,273 shares of the company’s stock, valued at approximately $1,302,000.02. This trade represents a 16.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the transaction, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is currently owned by corporate insiders.

Allegion Price Performance

ALLE opened at $127.17 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The business has a fifty day moving average of $129.67 and a 200 day moving average of $136.46. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The stock has a market cap of $10.97 billion, a P/E ratio of 18.65, a PEG ratio of 3.97 and a beta of 1.11.

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

Allegion Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.60%. This is a boost from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. Allegion’s dividend payout ratio is currently 29.91%.

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.