Merit Financial Group LLC Grows Stake in Allegion plc (NYSE:ALLE)

Merit Financial Group LLC lifted its holdings in shares of Allegion plc (NYSE:ALLE - Free Report) by 284.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,285 shares of the scientific and technical instruments company's stock after purchasing an additional 6,128 shares during the period. Merit Financial Group LLC's holdings in Allegion were worth $1,081,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALLE. Douglass Winthrop Advisors LLC lifted its position in Allegion by 0.4% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 22,273 shares of the scientific and technical instruments company's stock valued at $2,911,000 after acquiring an additional 80 shares in the last quarter. Waterloo Capital L.P. lifted its stake in Allegion by 1.2% in the fourth quarter. Waterloo Capital L.P. now owns 7,180 shares of the scientific and technical instruments company's stock valued at $938,000 after acquiring an additional 83 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Allegion by 23.2% in the 4th quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company's stock valued at $59,000 after purchasing an additional 85 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Allegion by 33.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock worth $53,000 after acquiring an additional 101 shares during the period. Finally, Parallel Advisors LLC lifted its position in Allegion by 4.0% during the first quarter. Parallel Advisors LLC now owns 2,746 shares of the scientific and technical instruments company's stock worth $358,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Transactions at Allegion

In other news, SVP Tracy L. Kemp sold 2,032 shares of the firm's stock in a transaction that occurred on 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 owns 10,273 shares in the company, valued at $1,302,000.02. This trade represents a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by insiders.

Allegion Trading Down 0.4%

ALLE stock traded down $0.53 during trading on Monday, hitting $138.63. The company had a trading volume of 59,423 shares, compared to its average volume of 864,143. 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 one year low of $113.27 and a one year high of $156.10. The business has a 50-day moving average of $135.12 and a 200-day moving average of $133.04. The stock has a market cap of $11.93 billion, a PE ratio of 20.33, a PEG ratio of 3.97 and a beta of 1.02.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.68 by $0.18. The business had revenue of $941.90 million during the quarter, compared to analysts' expectations of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The firm's revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 earnings per share. Research analysts predict that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

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

Analyst Ratings Changes

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