GAMMA Investing LLC Raises Stock Holdings in Allegion plc (NYSE:ALLE)

GAMMA Investing LLC grew its holdings in shares of Allegion plc (NYSE:ALLE - Free Report) by 38,934.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 196,734 shares of the scientific and technical instruments company's stock after purchasing an additional 196,230 shares during the period. GAMMA Investing LLC owned about 0.23% of Allegion worth $25,666,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Allegion by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 10,718,458 shares of the scientific and technical instruments company's stock worth $1,400,688,000 after buying an additional 177,808 shares in the last quarter. Boston Partners boosted its position in shares of Allegion by 11.6% during the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company's stock worth $616,503,000 after acquiring an additional 488,390 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Allegion by 1.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,897,407 shares of the scientific and technical instruments company's stock worth $509,313,000 after acquiring an additional 38,377 shares in the last quarter. Van ECK Associates Corp increased its stake in Allegion by 8.1% in the fourth quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company's stock valued at $449,033,000 after acquiring an additional 257,175 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Allegion by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,152,831 shares of the scientific and technical instruments company's stock valued at $280,607,000 after purchasing an additional 41,417 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Insider Transactions at Allegion

In other news, SVP Tracy L. Kemp sold 2,032 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the transaction, the senior vice president now owns 10,273 shares of the company's stock, valued at approximately $1,302,000.02. This represents a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.23% of the company's stock.

Allegion Stock Up 0.7%

ALLE traded up $1.00 during mid-day trading on Friday, reaching $139.23. 737,728 shares of the stock were exchanged, compared to its average volume of 863,892. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10. 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 $134.95 and a two-hundred day moving average price of $133.13. The stock has a market capitalization of $11.98 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 3.97 and a beta of 1.02.

Allegion (NYSE:ALLE - Get Free Report) last issued its 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 net margin of 15.84% and a return on equity of 45.12%. The business had revenue of $941.90 million for the quarter, compared to analysts' expectations of $918.53 million. During the same quarter in the previous year, the firm posted $1.55 EPS. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Allegion plc will post 7.77 EPS for the current year.

Allegion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, June 13th. Allegion's dividend payout ratio is presently 28.65%.

Wall Street Analysts Forecast Growth

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

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.