Allegion plc (NYSE:ALLE) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in shares of Allegion plc (NYSE:ALLE - Free Report) by 42.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 701,741 shares of the scientific and technical instruments company's stock after selling 515,276 shares during the quarter. Bank of America Corp DE owned about 0.81% of Allegion worth $91,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Crew Capital Management Ltd. lifted its holdings in shares of Allegion by 224.9% in the 4th quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company's stock valued at $759,000 after buying an additional 4,022 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Allegion by 438.6% in the 4th quarter. Renaissance Technologies LLC now owns 267,700 shares of the scientific and technical instruments company's stock valued at $34,983,000 after buying an additional 218,000 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Allegion by 4.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company's stock valued at $26,724,000 after buying an additional 8,806 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Allegion by 73.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 18,761 shares of the scientific and technical instruments company's stock valued at $2,452,000 after buying an additional 7,950 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in shares of Allegion in the 4th quarter valued at approximately $4,398,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Price Performance

Allegion stock traded up $1.77 during mid-day trading on Thursday, hitting $142.85. 677,372 shares of the company were exchanged, compared to its average volume of 842,505. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. The business's 50 day simple moving average is $130.39 and its two-hundred day simple moving average is $132.96. The company has a market capitalization of $12.29 billion, a P/E ratio of 20.95, a PEG ratio of 3.97 and a beta of 1.02. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.68 by $0.18. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $941.90 million during the quarter, compared to the consensus estimate of $918.53 million. During the same quarter in the previous year, the business earned $1.55 earnings per share. The business's revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, June 13th. Allegion's dividend payout ratio is presently 28.65%.

Insider Transactions at Allegion

In other news, SVP David S. Ilardi sold 789 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total value of $98,845.92. Following the completion of the sale, the senior vice president now owns 9,625 shares of the company's stock, valued at $1,205,820. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the company'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 completion of the sale, the chief accounting officer now directly owns 4,972 shares of the company's stock, valued at $620,008.40. The trade was a 7.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock valued at $406,636 over the last quarter. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALLE. StockNews.com cut Allegion from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Morgan Stanley lifted their price objective on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Robert W. Baird lifted their price objective on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. 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 report on Wednesday, February 19th. Finally, Barclays raised their price target on Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $140.40.

Allegion Company 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.