Mackenzie Financial Corp Increases Stake in Allegion plc (NYSE:ALLE)

Mackenzie Financial Corp grew its stake in shares of Allegion plc (NYSE:ALLE - Free Report) by 270.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,346 shares of the scientific and technical instruments company's stock after acquiring an additional 7,554 shares during the quarter. Mackenzie Financial Corp's holdings in Allegion were worth $1,352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Millstone Evans Group LLC bought a new stake in Allegion in the 4th quarter worth about $28,000. Colonial Trust Co SC boosted its position in Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 164 shares during the last quarter. Atala Financial Inc purchased a new position in Allegion in the fourth quarter worth about $35,000. GeoWealth Management LLC boosted its position in Allegion by 259.3% in the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock worth $40,000 after purchasing an additional 223 shares during the last quarter. Finally, Private Trust Co. NA boosted its position in Allegion by 56.1% in the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock worth $42,000 after purchasing an additional 115 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Allegion Trading Down 0.3%

ALLE traded down $0.41 during trading hours on Wednesday, reaching $138.69. 253,122 shares of the company's stock traded hands, compared to its average volume of 860,141. The firm has a 50-day moving average price of $134.60 and a 200 day moving average price of $133.10. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $11.93 billion, a PE ratio of 20.34, a PEG ratio of 3.97 and a beta of 1.02.

Allegion (NYSE:ALLE - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $941.90 million during the quarter, compared to analysts' expectations of $918.53 million. During the same quarter in the previous year, the business earned $1.55 EPS. Allegion's revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, June 13th. Allegion's dividend payout ratio is 28.65%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their target price 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. Morgan Stanley raised their target price on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Robert W. Baird raised their target price on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Wall Street Zen downgraded Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Barclays boosted their price objective on Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, Allegion presently has a consensus rating of "Hold" and an average target price of $140.40.

Insider Activity at Allegion

In other news, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following 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 represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

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.