Pictet Asset Management Holding SA Has $171.47 Million Stock Holdings in Allegion plc (NYSE:ALLE)

Pictet Asset Management Holding SA reduced its position in shares of Allegion plc (NYSE:ALLE) by 4.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,312,111 shares of the scientific and technical instruments company’s stock after selling 55,860 shares during the period. Pictet Asset Management Holding SA’s holdings in Allegion were worth $171,467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Allegion during the fourth quarter worth approximately $108,058,000. Lord Abbett & CO. LLC increased its stake in Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after purchasing an additional 823,874 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Allegion during the fourth quarter worth $65,175,000. Boston Partners lifted its stake in shares of Allegion by 11.6% in the fourth 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Allegion by 397.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock valued at $88,450,000 after buying an additional 484,995 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In other Allegion news, SVP Tracy L. Kemp sold 2,032 shares of the 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 completion of the transaction, the senior vice president now owns 10,273 shares in the company, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David S. Ilardi sold 789 shares of Allegion stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the completion of the transaction, the senior vice president now owns 9,625 shares of the company’s stock, valued at $1,205,820. The trade was a 7.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is owned by company insiders.

Allegion Stock Down 1.4 %

ALLE stock opened at $128.32 on Friday. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The stock has a market cap of $11.07 billion, a P/E ratio of 18.82, a P/E/G ratio of 3.97 and a beta of 1.11. The stock’s fifty day simple moving average is $129.55 and its two-hundred day simple moving average is $136.25. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $938.91 million. Analysts expect that Allegion plc will post 7.77 EPS for the current year.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 1.59%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is presently 29.91%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ALLE shares. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley raised their target price on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Wells Fargo & Company decreased their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Barclays dropped their price objective on Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a research note on Wednesday. Finally, Robert W. Baird reduced their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, Allegion 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.