Brandywine Global Investment Management LLC Sells 2,554 Shares of Allegion plc (NYSE:ALLE)

Brandywine Global Investment Management LLC cut its stake in shares of Allegion plc (NYSE:ALLE) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,668 shares of the scientific and technical instruments company’s stock after selling 2,554 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.06% of Allegion worth $6,752,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. TD Private Client Wealth LLC grew its holdings in shares of Allegion by 0.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 19,697 shares of the scientific and technical instruments company’s stock valued at $2,871,000 after buying an additional 77 shares during the period. Douglass Winthrop Advisors LLC grew its stake in Allegion by 0.4% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company’s stock valued at $2,911,000 after acquiring an additional 80 shares during the period. Heritage Family Offices LLP increased its holdings in shares of Allegion by 3.2% in the fourth quarter. Heritage Family Offices LLP now owns 2,645 shares of the scientific and technical instruments company’s stock worth $346,000 after acquiring an additional 82 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Allegion by 23.2% in the fourth quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company’s stock worth $59,000 after acquiring an additional 85 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Allegion by 2.8% during the third quarter. Captrust Financial Advisors now owns 3,541 shares of the scientific and technical instruments company’s stock worth $516,000 after purchasing an additional 96 shares during the period. Institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALLE. Barclays lowered their target price on Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company dropped their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird decreased their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Morgan Stanley raised their price target on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. One research 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 company currently has an average rating of “Hold” and an average target price of $137.67.

Insider Activity at Allegion

In related news, CAO Nickolas A. Musial sold 403 shares of the firm’s 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 sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at $620,008.40. This trade represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Tracy L. Kemp sold 2,032 shares of the business’s 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 transaction, the senior vice president now directly owns 10,273 shares of the company’s stock, valued at approximately $1,302,000.02. The trade was a 16.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,224 shares of company stock worth $406,636. Corporate insiders own 0.33% of the company’s stock.

Allegion Price Performance

Shares of NYSE ALLE opened at $130.80 on Wednesday. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a market cap of $11.29 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. The business’s 50 day moving average price is $129.40 and its two-hundred day moving average price is $136.11. 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 (NYSE:ALLE) last posted its earnings results 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 return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. On average, analysts predict that Allegion plc will post 7.77 EPS for the current year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.51 per share. This is a boost from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, March 14th. Allegion’s dividend payout ratio (DPR) is presently 29.91%.

Allegion 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.