Handelsbanken Fonder AB Grows Position in Allegion plc (NYSE:ALLE)

Handelsbanken Fonder AB boosted its stake in shares of Allegion plc (NYSE:ALLE) by 15.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,800 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,100 shares during the period. Handelsbanken Fonder AB’s holdings in Allegion were worth $3,110,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ieq Capital LLC boosted its holdings in shares of Allegion by 558.2% during the 4th quarter. Ieq Capital LLC now owns 23,571 shares of the scientific and technical instruments company’s stock valued at $3,080,000 after purchasing an additional 19,990 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Allegion by 207.7% during the 4th quarter. Global Retirement Partners LLC now owns 440 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 297 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Allegion by 24.6% during the 4th quarter. Venturi Wealth Management LLC now owns 2,699 shares of the scientific and technical instruments company’s stock valued at $353,000 after purchasing an additional 533 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Allegion by 0.3% during the 4th quarter. Truist Financial Corp now owns 51,984 shares of the scientific and technical instruments company’s stock valued at $6,793,000 after purchasing an additional 146 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Allegion by 343.4% during the 4th quarter. CIBC Asset Management Inc now owns 108,289 shares of the scientific and technical instruments company’s stock valued at $14,114,000 after purchasing an additional 83,865 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

ALLE has been the subject of several research reports. Barclays dropped their price objective on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Morgan Stanley upped their target price on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird decreased their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $138.33.

Insider Buying and Selling

In other news, CEO John H. Stone acquired 7,500 shares of Allegion stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the transaction, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This trade represents a 6.64 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Gregg C. Sengstack bought 8,000 shares of Allegion stock in a transaction dated Wednesday, February 19th. The shares were bought at an average cost of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, valued at approximately $1,001,920. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by corporate insiders.

Allegion Stock Up 0.6 %

Shares of NYSE ALLE opened at $127.97 on Tuesday. The firm’s 50-day moving average price is $130.90 and its 200-day moving average price is $137.37. The company has a current ratio of 2.04, a quick ratio of 1.29 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 3.97 and a beta of 1.11. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10.

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 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 company had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. On average, equities research analysts anticipate that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The company 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 $0.51 dividend. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Friday, March 14th. Allegion’s dividend payout ratio is 29.91%.

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.