Gregg C. Sengstack Acquires 8,000 Shares of Allegion plc (NYSE:ALLE) Stock

Allegion plc (NYSE:ALLE) Director Gregg C. Sengstack acquired 8,000 shares of Allegion stock in a transaction on Wednesday, February 19th. The stock was purchased at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $1,001,920. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Allegion Stock Performance

Shares of Allegion stock opened at $127.16 on Friday. The business’s fifty day simple moving average is $131.32 and its 200 day simple moving average is $137.24. The firm has a market capitalization of $10.97 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 3.99 and a beta of 1.11. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The company has a current ratio of 2.04, a quick ratio of 1.29 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.11. The business had revenue of $945.60 million for 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%. As a group, analysts anticipate that Allegion plc will post 7.7 EPS for the current year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s dividend payout ratio (DPR) is 28.15%.

Institutional Trading of Allegion

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Allegion by 1.7% during 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 during the period. Boston Partners raised 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 during the period. State Street Corp raised its stake in shares of Allegion by 1.2% in 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 buying an additional 49,929 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of 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 valued at $509,313,000 after buying an additional 38,377 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Allegion by 8.1% during the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock valued at $449,033,000 after purchasing an additional 257,175 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALLE has been the subject of a number of research reports. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Robert W. Baird reduced their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday. Morgan Stanley raised their price objective on Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday. Barclays reduced their price objective on Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research note on Wednesday. Finally, 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 note on Wednesday. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, Allegion currently has a consensus rating of “Hold” and a consensus target price 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.