Woodline Partners LP Takes Position in Allegion plc (NYSE:ALLE)

Woodline Partners LP bought a new stake in Allegion plc (NYSE:ALLE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 60,423 shares of the scientific and technical instruments company's stock, valued at approximately $7,896,000. Woodline Partners LP owned about 0.07% of Allegion as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Douglass Winthrop Advisors LLC raised its holdings 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 during the period. Waterloo Capital L.P. raised its holdings in Allegion by 1.2% in the 4th 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 period. IFP Advisors Inc raised its holdings in 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 acquiring an additional 85 shares during the period. Smartleaf Asset Management LLC raised its holdings in Allegion by 33.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company's stock valued at $53,000 after acquiring an additional 101 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Allegion by 1.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,256 shares of the scientific and technical instruments company's stock worth $1,471,000 after purchasing an additional 110 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALLE has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Barclays raised their target price on shares of Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a report on Friday, April 25th. Morgan Stanley raised their target price on shares of 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 shares of Allegion from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Finally, Robert W. Baird lifted their price objective 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. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, Allegion has an average rating of "Hold" and an average target price of $140.40.

Allegion Price Performance

Allegion stock traded down $0.97 during mid-day trading on Wednesday, reaching $143.57. The company had a trading volume of 431,962 shares, compared to its average volume of 850,754. Allegion plc has a fifty-two week low of $113.27 and a fifty-two week 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 company has a market cap of $12.35 billion, a P/E ratio of 21.05, a P/E/G ratio of 3.97 and a beta of 1.02. The business has a fifty day simple moving average of $133.41 and a 200 day simple moving average of $133.10.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.68 by $0.18. The company had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. Allegion's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 earnings per share. On average, equities research analysts predict that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.42%. Allegion's dividend payout ratio (DPR) is presently 28.65%.

Insider Transactions at Allegion

In related news, SVP Tracy L. Kemp sold 2,032 shares of the business'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 in the company, valued at $1,302,000.02. The trade was a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David S. Ilardi sold 789 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction of $98,845.92. Following the completion of the transaction, the senior vice president now owns 9,625 shares in the company, valued at approximately $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 owned by company insiders.

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.