Ensign Peak Advisors Inc Increases Stock Position in Allegion plc (NYSE:ALLE)

Ensign Peak Advisors Inc raised its stake in shares of Allegion plc (NYSE:ALLE - Free Report) by 34.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,522 shares of the scientific and technical instruments company's stock after purchasing an additional 12,657 shares during the quarter. Ensign Peak Advisors Inc owned about 0.06% of Allegion worth $6,472,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Crew Capital Management Ltd. grew its position in Allegion by 224.9% during the fourth 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 grew its position 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 purchasing an additional 218,000 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Allegion by 4.5% in the fourth 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 during the period. Daiwa Securities Group Inc. grew its position in shares of Allegion by 73.5% in 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 purchasing an additional 7,950 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in shares of Allegion in the fourth quarter valued at about $4,398,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Wall Street Analysts Forecast Growth

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

Allegion Stock Up 2.0%

NYSE:ALLE traded up $2.80 during trading hours on Friday, hitting $145.71. The company's stock had a trading volume of 764,293 shares, compared to its average volume of 845,119. The stock has a market capitalization of $12.54 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 3.97 and a beta of 1.02. The stock has a fifty day moving average of $130.80 and a 200-day moving average of $133.02. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. 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 issued its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.18. The company had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.55 earnings per share. On average, equities analysts forecast that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The company also recently disclosed 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 1.40%. Allegion's payout ratio is currently 28.65%.

Insider Activity at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the transaction, the senior vice president now directly owns 10,273 shares of the company's stock, valued at approximately $1,302,000.02. This trade represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now owns 4,972 shares of the company's stock, valued at $620,008.40. This represents a 7.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,224 shares of company stock worth $406,636 over the last 90 days. Company insiders own 0.33% of the company's stock.

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.