Allegion plc (NYSE:ALLE) SVP Sells $257,535.68 in Stock

Allegion plc (NYSE:ALLE) SVP Tracy L. Kemp sold 2,032 shares of the business’s stock in a transaction on 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 directly owns 10,273 shares in the company, valued at approximately $1,302,000.02. This represents a 16.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Allegion Stock Performance

Shares of Allegion stock opened at $123.91 on Thursday. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 3.97 and a beta of 1.11. 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 plc has a one year low of $113.27 and a one year high of $156.10. The business has a 50-day simple moving average of $129.82 and a 200 day simple moving average of $136.96.

Allegion (NYSE:ALLE) last released its quarterly earnings results 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 business had revenue of $945.60 million during the quarter, compared to the consensus estimate of $938.91 million. On average, research analysts anticipate that Allegion plc will post 7.77 earnings per share 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 paid a $0.51 dividend. This is an increase from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 1.65%. Allegion’s dividend payout ratio is presently 29.91%.

Institutional Investors Weigh In On Allegion

A number of hedge funds and other institutional investors have recently bought and sold shares of ALLE. Vanguard Group Inc. grew its position in Allegion by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company’s stock worth $1,400,688,000 after acquiring an additional 177,808 shares in the last quarter. Boston Partners increased its stake in shares of Allegion by 11.6% during 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 purchasing an additional 488,390 shares in the last quarter. State Street Corp increased its position in shares of Allegion by 1.2% during the third quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock valued at $589,659,000 after acquiring an additional 49,929 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Allegion by 1.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company’s stock worth $509,313,000 after purchasing an additional 38,377 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Allegion by 8.1% in the fourth quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after purchasing an additional 257,175 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALLE. Barclays dropped their target price on Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Wells Fargo & Company reduced 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. Morgan Stanley increased 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. Finally, Robert W. Baird dropped their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $138.33.

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.