Royal Bank of Canada Raises Stock Position in Allegion plc (NYSE:ALLE)

Royal Bank of Canada boosted its holdings in shares of Allegion plc (NYSE:ALLE - Free Report) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 221,685 shares of the scientific and technical instruments company's stock after buying an additional 2,700 shares during the quarter. Royal Bank of Canada owned approximately 0.26% of Allegion worth $28,969,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Rafferty Asset Management LLC boosted its position in shares of Allegion by 11.1% in the fourth quarter. Rafferty Asset Management LLC now owns 8,117 shares of the scientific and technical instruments company's stock worth $1,061,000 after purchasing an additional 811 shares during the period. ProShare Advisors LLC boosted its position in shares of Allegion by 55.0% in the fourth quarter. ProShare Advisors LLC now owns 23,081 shares of the scientific and technical instruments company's stock worth $3,016,000 after purchasing an additional 8,191 shares during the period. Quantinno Capital Management LP boosted its position in shares of Allegion by 282.3% in the fourth quarter. Quantinno Capital Management LP now owns 35,620 shares of the scientific and technical instruments company's stock worth $4,655,000 after purchasing an additional 26,303 shares during the period. Mufg Securities Americas Inc. bought a new position in shares of Allegion in the fourth quarter worth approximately $168,000. Finally, Man Group plc boosted its position in shares of Allegion by 466.1% in the fourth quarter. Man Group plc now owns 202,826 shares of the scientific and technical instruments company's stock worth $26,505,000 after purchasing an additional 166,996 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Allegion Price Performance

Shares of NYSE:ALLE traded down $1.62 during midday trading on Wednesday, reaching $142.91. 705,253 shares of the company were exchanged, compared to its average volume of 998,828. Allegion plc has a one year low of $113.27 and a one year high of $156.10. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The business's fifty day moving average is $133.41 and its two-hundred day moving average is $133.10. The stock has a market cap of $12.30 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 3.97 and a beta of 1.02.

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

Allegion Announces Dividend

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 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 1.43%. Allegion's dividend payout ratio is presently 28.65%.

Analysts Set New Price Targets

A number of research firms have weighed in on ALLE. Morgan Stanley upped their price target 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. Wells Fargo & Company dropped their price target 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. Barclays upped their price target on Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a research note on Friday, April 25th. Robert W. Baird upped their target price on shares of Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Finally, Wall Street Zen lowered shares of Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $140.40.

Insider Transactions at Allegion

In other news, SVP David S. Ilardi sold 789 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the completion of the sale, the senior vice president now owns 9,625 shares in the company, valued at approximately $1,205,820. This trade represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the sale, the senior vice president now owns 10,273 shares of the company's stock, valued at $1,302,000.02. This trade represents a 16.51% decrease in their position. The disclosure for this sale can be found here. 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.