Teacher Retirement System of Texas Buys 10,246 Shares of Allegion plc (NYSE:ALLE)

Teacher Retirement System of Texas increased its stake in Allegion plc (NYSE:ALLE) by 14.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 78,951 shares of the scientific and technical instruments company’s stock after purchasing an additional 10,246 shares during the quarter. Teacher Retirement System of Texas’ holdings in Allegion were worth $10,317,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in Allegion in the 3rd quarter worth $28,000. Atala Financial Inc bought a new position in Allegion in the 4th quarter worth $35,000. Private Trust Co. NA raised its holdings 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 during the period. Tortoise Investment Management LLC raised its holdings in Allegion by 78.0% during the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock valued at $51,000 after acquiring an additional 170 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in 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 acquiring an additional 101 shares during the period. 92.21% of the stock is owned by institutional investors.

Allegion Trading Down 0.4 %

Shares of Allegion stock opened at $127.17 on Friday. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 3.97 and a beta of 1.11. The business has a 50-day moving average price of $129.67 and a 200-day moving average price of $136.46. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The firm had revenue of $945.60 million during 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%. Equities research analysts anticipate that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 1.60%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is currently 29.91%.

Wall Street Analysts Forecast Growth

ALLE has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Robert W. Baird decreased their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Barclays decreased their price target on Allegion from $134.00 to $130.00 and set an “underweight” 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 report on Friday, March 7th. Finally, Wells Fargo & Company cut 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. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, Allegion currently has a consensus rating of “Hold” and an average target price of $138.33.

Insider Buying and Selling

In related news, SVP Tracy L. Kemp sold 2,032 shares of Allegion stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the transaction, the senior vice president now owns 10,273 shares in the company, valued at approximately $1,302,000.02. This trade represents a 16.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the transaction, the chief accounting officer now owns 4,972 shares of the company’s stock, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,224 shares of company stock worth $406,636. Corporate 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.