Cypress Advisory Group LLC Acquires Shares of 15,579 Allegion plc (NYSE:ALLE)

Cypress Advisory Group LLC acquired a new stake in Allegion plc (NYSE:ALLE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 15,579 shares of the scientific and technical instruments company's stock, valued at approximately $2,036,000. Allegion comprises approximately 1.9% of Cypress Advisory Group LLC's holdings, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Crew Capital Management Ltd. boosted 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 last quarter. Renaissance Technologies LLC increased its stake in shares of Allegion by 438.6% in the fourth 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. boosted its position in shares of Allegion by 4.5% during 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 purchasing an additional 8,806 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Allegion by 73.5% during the fourth 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 acquiring an additional 7,950 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new position in shares of Allegion during the fourth quarter valued at approximately $4,398,000. 92.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Allegion news, Director Gregg C. Sengstack acquired 8,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was acquired at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the transaction, the director now owns 8,000 shares of the company's stock, valued at approximately $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the sale, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,224 shares of company stock worth $406,636. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALLE. Robert W. Baird lifted their price target on Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Barclays boosted their target price on Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a research report on Friday, April 25th. Morgan Stanley lifted their target price on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Wells Fargo & Company dropped their price target on Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Finally, StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $140.40.

Allegion Trading Up 1.6 %

Shares of Allegion stock traded up $2.15 during trading hours on Friday, reaching $140.84. 819,683 shares of the company's stock were exchanged, compared to its average volume of 834,591. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 3.97 and a beta of 1.02. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average of $128.38 and a 200-day moving average of $133.36. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last posted 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 the consensus estimate of $1.68 by $0.18. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The firm had revenue of $941.90 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. Sell-side analysts forecast that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued 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 dividend yield of 1.45%. Allegion's payout ratio is currently 28.65%.

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.