Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Holdings in Allegion plc (NYSE:ALLE)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Allegion plc (NYSE:ALLE) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,791 shares of the scientific and technical instruments company’s stock after purchasing an additional 148 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Allegion were worth $1,149,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Cetera Investment Advisers increased its position in Allegion by 5.3% in the second quarter. Cetera Investment Advisers now owns 13,788 shares of the scientific and technical instruments company’s stock worth $1,629,000 after purchasing an additional 697 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Allegion by 66.2% in the 3rd quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock worth $47,000 after buying an additional 129 shares during the last quarter. CWM LLC raised its position in shares of Allegion by 11.3% during the 3rd quarter. CWM LLC now owns 3,358 shares of the scientific and technical instruments company’s stock valued at $489,000 after buying an additional 340 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Allegion in the 3rd quarter valued at about $94,000. Finally, Creative Planning grew its position in Allegion by 9.1% in the third quarter. Creative Planning now owns 11,865 shares of the scientific and technical instruments company’s stock worth $1,729,000 after acquiring an additional 988 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Mizuho upped their price objective on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays lowered their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley began coverage on shares of Allegion in a research note on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price on the stock. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company reduced their price objective on shares of 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 research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $140.83.

Allegion Price Performance

Allegion stock opened at $131.60 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 3.19 and a beta of 1.11. The firm has a 50-day moving average of $132.96 and a two-hundred day moving average of $137.56. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10.

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. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 1.55%. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio is 29.49%.

Insiders Place Their Bets

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

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.