Bank of Montreal Can Grows Stock Position in Allegion plc (NYSE:ALLE)

Bank of Montreal Can boosted its position in Allegion plc (NYSE:ALLE) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,305 shares of the scientific and technical instruments company’s stock after purchasing an additional 11,367 shares during the quarter. Bank of Montreal Can’s holdings in Allegion were worth $13,892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Polymer Capital Management US LLC acquired a new stake in shares of Allegion in the fourth quarter valued at approximately $213,000. Cerity Partners LLC increased its stake in shares of Allegion by 39.8% in the 4th quarter. Cerity Partners LLC now owns 26,432 shares of the scientific and technical instruments company’s stock worth $3,492,000 after acquiring an additional 7,529 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Allegion by 46.5% during the 4th quarter. Federated Hermes Inc. now owns 3,516 shares of the scientific and technical instruments company’s stock worth $459,000 after acquiring an additional 1,116 shares during the period. Waterloo Capital L.P. raised its holdings in shares of Allegion by 1.2% during the 4th quarter. Waterloo Capital L.P. now owns 7,180 shares of the scientific and technical instruments company’s stock worth $938,000 after acquiring an additional 83 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Allegion by 8.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 400,859 shares of the scientific and technical instruments company’s stock valued at $52,384,000 after purchasing an additional 29,888 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the topic of a number of analyst reports. Barclays reduced their target price on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 26th. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Wells Fargo & Company lowered their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Robert W. Baird reduced their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, Morgan Stanley raised 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. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $137.67.

Insider Buying and Selling at Allegion

In related news, CAO Nickolas A. Musial sold 403 shares of the firm’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 value of $50,254.10. Following the sale, the chief accounting officer now owns 4,972 shares of the company’s stock, valued at $620,008.40. This trade represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregg C. Sengstack purchased 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was purchased at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at $1,001,920. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 3,224 shares of company stock valued at $406,636 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Allegion Stock Up 2.4 %

NYSE:ALLE opened at $125.02 on Friday. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10. 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 stock’s fifty day moving average is $127.72 and its two-hundred day moving average is $134.87. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01.

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

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 1.63%. Allegion’s dividend payout ratio (DPR) is presently 29.91%.

About Allegion

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.