Allegion plc (NYSE:ALLE) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada increased its holdings in Allegion plc (NYSE:ALLE - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,685 shares of the scientific and technical instruments company's stock after purchasing an additional 2,700 shares during the period. Royal Bank of Canada owned 0.26% of Allegion worth $28,969,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ALLE. Barclays PLC lifted its holdings in Allegion by 28.9% in the 3rd quarter. Barclays PLC now owns 259,793 shares of the scientific and technical instruments company's stock worth $37,861,000 after purchasing an additional 58,268 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Allegion by 10.4% in the 4th quarter. Park Avenue Securities LLC now owns 3,847 shares of the scientific and technical instruments company's stock worth $503,000 after purchasing an additional 362 shares in the last quarter. Merit Financial Group LLC purchased a new position in Allegion in the 4th quarter worth approximately $282,000. Arkadios Wealth Advisors purchased a new position in Allegion in the 4th quarter worth approximately $277,000. Finally, Crossmark Global Holdings Inc. lifted its holdings in Allegion by 383.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 11,460 shares of the scientific and technical instruments company's stock worth $1,497,000 after purchasing an additional 9,090 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Allegion

In other news, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David S. Ilardi sold 789 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total value of $98,845.92. Following the transaction, the senior vice president now directly owns 9,625 shares in the company, valued at $1,205,820. The trade was a 7.58% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Allegion Price Performance

Shares of ALLE traded up $3.19 during mid-day trading on Tuesday, hitting $144.50. 1,178,623 shares of the stock were exchanged, compared to its average volume of 852,381. The company has a market cap of $12.43 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 3.97 and a beta of 1.02. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The firm has a 50-day moving average of $133.08 and a two-hundred day moving average of $133.02. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $918.53 million. During the same quarter in the prior year, the firm posted $1.55 EPS. Allegion's quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities analysts predict that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 1.41%. Allegion's payout ratio is presently 28.65%.

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.