Centric Wealth Management Lowers Stock Holdings in Allegion plc (NYSE:ALLE)

Centric Wealth Management cut its stake in shares of Allegion plc (NYSE:ALLE) by 48.4% in the 4th quarter, Holdings Channel reports. The fund owned 15,649 shares of the scientific and technical instruments company’s stock after selling 14,683 shares during the quarter. Centric Wealth Management’s holdings in Allegion were worth $2,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ALLE. Vanguard Group Inc. raised its stake in shares of Allegion by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company’s stock worth $1,400,688,000 after purchasing an additional 177,808 shares during the last quarter. Boston Partners increased its stake in Allegion by 11.6% in the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock valued at $616,503,000 after buying an additional 488,390 shares during the period. State Street Corp raised its position in Allegion by 1.2% during the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after buying an additional 49,929 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Allegion by 8.1% in the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after acquiring an additional 257,175 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Allegion by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company’s stock valued at $280,607,000 after acquiring an additional 41,417 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALLE has been the subject of a number of recent analyst reports. Barclays reduced their price objective on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a research report on Wednesday, March 26th. Wells Fargo & Company decreased their price target 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. Morgan Stanley increased their price objective on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Robert W. Baird cut their price target on shares of Allegion from $152.00 to $144.00 and set a “neutral” 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $137.67.

Insiders Place Their Bets

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

Allegion Trading Up 1.8 %

Shares of ALLE stock opened at $130.58 on Tuesday. The stock has a market cap of $11.27 billion, a P/E ratio of 19.15, a P/E/G ratio of 3.97 and a beta of 1.11. 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 plc has a fifty-two week low of $113.27 and a fifty-two week high of $156.10. The business has a fifty day simple moving average of $129.48 and a 200-day simple moving average of $136.19.

Allegion (NYSE:ALLE) last announced its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The company had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. 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 announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio is 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.