Lecap Asset Management Ltd. Makes New $1.58 Million Investment in Allegion plc (NYSE:ALLE)

Lecap Asset Management Ltd. purchased a new stake in Allegion plc (NYSE:ALLE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,050 shares of the scientific and technical instruments company’s stock, valued at approximately $1,575,000.

Several other large investors have also recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new stake in Allegion in the third quarter valued at $4,988,000. Qsemble Capital Management LP bought a new stake in shares of Allegion in the 3rd quarter valued at about $891,000. Nordea Investment Management AB increased its stake in shares of Allegion by 4.4% in the fourth quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock valued at $154,643,000 after buying an additional 49,176 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Allegion by 4.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock worth $1,260,000 after acquiring an additional 340 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Allegion by 31.6% in the third quarter. JPMorgan Chase & Co. now owns 801,520 shares of the scientific and technical instruments company’s stock worth $116,814,000 after acquiring an additional 192,609 shares during the period. Institutional investors own 92.21% of the company’s stock.

Allegion Trading Up 0.2 %

NYSE:ALLE opened at $129.27 on Friday. The firm has a fifty day simple moving average of $133.64 and a two-hundred day simple moving average of $137.48. Allegion plc has a 12 month low of $113.27 and a 12 month high of $156.10. The stock has a market capitalization of $11.24 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 3.28 and a beta of 1.11. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

Allegion Increases Dividend

The company also recently announced 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. This represents a $2.04 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s payout ratio is presently 29.49%.

Insider Buying and Selling

In other Allegion news, CEO John H. Stone acquired 7,500 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the purchase, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on ALLE shares. Barclays decreased their target price on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird lifted their target price on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Thursday. Morgan Stanley initiated coverage on Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $140.83.

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.