Hsbc Holdings PLC Has $13.30 Million Position in Allegion plc (NYSE:ALLE)

Hsbc Holdings PLC cut its position in shares of Allegion plc (NYSE:ALLE) by 38.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,498 shares of the scientific and technical instruments company’s stock after selling 62,760 shares during the quarter. Hsbc Holdings PLC owned 0.12% of Allegion worth $13,296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently 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 acquired a new stake in Allegion during the fourth quarter worth $35,000. GeoWealth Management LLC increased its holdings in Allegion by 259.3% in the 4th quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 223 shares during the period. Private Trust Co. NA raised its stake in shares of 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 valued at $42,000 after buying an additional 115 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted 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 worth $51,000 after acquiring an additional 170 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Allegion Price Performance

Shares of ALLE stock opened at $136.50 on Monday. The stock’s fifty day moving average is $127.27 and its 200-day moving average is $133.61. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10. The stock has a market capitalization of $11.76 billion, a PE ratio of 20.01, a PEG ratio of 3.97 and a beta of 1.01.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.18. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The firm had revenue of $941.90 million during the quarter, compared to analysts’ expectations of $918.53 million. Equities research analysts expect that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. 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 1.49%. Allegion’s payout ratio is 29.91%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Allegion from $126.00 to $128.00 and gave the stock an “underweight” rating in a research report on Friday. Wells Fargo & Company cut their target price 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. Morgan Stanley upped their price target on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Robert W. Baird increased their target price on shares of Allegion from $144.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, Allegion currently has an average rating of “Hold” and a consensus target price of $140.40.

Insider Activity

In other Allegion news, SVP Tracy L. Kemp sold 2,032 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the transaction, the senior vice president now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nickolas A. Musial sold 403 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 4,972 shares of the company’s stock, valued at $620,008.40. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,224 shares of company stock valued at $406,636. Company insiders own 0.33% of the company’s stock.

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.