Cary Street Partners Financial LLC Takes $448,000 Position in Allegion plc (NYSE:ALLE)

Cary Street Partners Financial LLC acquired a new position in shares of Allegion plc (NYSE:ALLE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,431 shares of the scientific and technical instruments company's stock, valued at approximately $448,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fiduciary Management Inc. WI acquired a new position in Allegion during the 4th quarter worth about $116,484,000. Norges Bank purchased a new stake in Allegion during the fourth quarter worth about $108,058,000. Raymond James Financial Inc. acquired a new stake in shares of Allegion during the fourth quarter worth about $65,175,000. Boston Partners boosted 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 purchasing an additional 488,390 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in shares of Allegion by 312.4% in the fourth quarter. Allianz Asset Management GmbH now owns 574,012 shares of the scientific and technical instruments company's stock valued at $75,012,000 after purchasing an additional 434,820 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on ALLE shares. StockNews.com cut shares of Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Robert W. Baird lifted their target price on Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Barclays upped their price target on Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a report on Friday, April 25th. Morgan Stanley lifted 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, February 19th. Finally, Wells Fargo & Company cut their target price on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. 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.com, the company presently has a consensus rating of "Hold" and a consensus price target of $140.40.

Insider Buying and Selling at Allegion

In other news, SVP David S. Ilardi sold 789 shares of Allegion stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the transaction, the senior vice president now directly owns 9,625 shares of the company's stock, valued at $1,205,820. The trade was a 7.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregg C. Sengstack purchased 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the purchase, the director now owns 8,000 shares in the company, valued at $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 3,224 shares of company stock worth $406,636 over the last 90 days. Corporate insiders own 0.33% of the company's stock.

Allegion Stock Up 1.4%

NYSE ALLE traded up $1.96 during trading on Monday, reaching $143.81. 1,109,406 shares of the company's stock were exchanged, compared to its average volume of 840,127. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10. The stock has a market cap of $12.37 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 3.97 and a beta of 1.02. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The company has a 50 day moving average price of $129.74 and a two-hundred day moving average price of $132.88.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (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 firm had revenue of $941.90 million during the quarter, compared to the consensus estimate of $918.53 million. During the same period in the prior year, the company posted $1.55 earnings per share. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 1.42%. Allegion's dividend payout ratio (DPR) is presently 28.65%.

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.