Covestor Ltd Cuts Stake in Allegion plc (NYSE:ALLE)

Covestor Ltd cut its holdings in Allegion plc (NYSE:ALLE) by 27.6% during the fourth quarter, Holdings Channel reports. The firm owned 447 shares of the scientific and technical instruments company’s stock after selling 170 shares during the quarter. Covestor Ltd’s holdings in Allegion were worth $58,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALLE. Millstone Evans Group LLC bought a new stake in shares of Allegion during the fourth quarter valued at approximately $28,000. Atala Financial Inc bought a new stake in Allegion in the 4th quarter valued at $35,000. Private Trust Co. NA lifted its stake in Allegion by 56.1% in the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 115 shares in the last quarter. Tortoise Investment Management LLC boosted its holdings in shares of Allegion by 78.0% during the 4th 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 during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Allegion by 33.6% during 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 institutional investors.

Insider Activity at Allegion

In other news, SVP David S. Ilardi sold 789 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the transaction, the senior vice president now owns 9,625 shares in the company, valued at approximately $1,205,820. This trade represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This trade represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock worth $406,636 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

Allegion Stock Up 0.9 %

Shares of NYSE:ALLE opened at $126.24 on Tuesday. The firm has a market capitalization of $10.89 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 3.97 and a beta of 1.01. The business has a 50 day simple moving average of $127.66 and a two-hundred day simple moving average of $134.68. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) 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 company had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. On average, equities analysts predict that Allegion plc will post 7.77 EPS for the current year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, June 13th. Allegion’s dividend payout ratio is presently 29.91%.

Analyst Upgrades and Downgrades

ALLE has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Barclays decreased their price target 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. Robert W. Baird reduced their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company dropped their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $137.67.

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.