Hsbc Holdings PLC Reduces Stock Position in Allegion plc (NYSE:ALLE)

Hsbc Holdings PLC lowered its position in Allegion plc (NYSE:ALLE - Free Report) by 38.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 101,498 shares of the scientific and technical instruments company's stock after selling 62,760 shares during the period. Hsbc Holdings PLC owned approximately 0.12% of Allegion worth $13,296,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ALLE. Fiduciary Management Inc. WI purchased a new stake in shares of Allegion during the fourth quarter worth about $116,484,000. Norges Bank purchased a new stake in Allegion during the 4th quarter worth approximately $108,058,000. Lord Abbett & CO. LLC raised its holdings in shares of Allegion by 96.8% in the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company's stock worth $244,063,000 after buying an additional 823,874 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Allegion in the fourth quarter worth $65,175,000. Finally, Boston Partners lifted its stake in shares of Allegion by 11.6% during the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company's stock worth $616,503,000 after buying an additional 488,390 shares during the period. Institutional investors own 92.21% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALLE. Wells Fargo & Company reduced their target price 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. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Robert W. Baird increased their price target on shares of Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Barclays upped their price objective on shares of Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a report on Friday, April 25th. Finally, Morgan Stanley increased their price objective on shares of Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $140.40.

Allegion Stock Performance

ALLE stock traded up $2.15 during midday trading on Friday, hitting $140.84. 819,683 shares of the stock traded hands, compared to its average volume of 834,591. The stock's fifty day simple moving average is $128.38 and its 200-day simple moving average is $133.36. The firm has a market cap of $12.12 billion, a P/E ratio of 20.65, a PEG ratio of 3.97 and a beta of 1.02. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43.

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, topping 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 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, analysts expect that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 annualized dividend and a dividend yield of 1.45%. Allegion's dividend payout ratio (DPR) is 28.65%.

Insider Transactions at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,032 shares of the business'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 transaction of $257,535.68. Following the completion of the sale, the senior vice president now directly owns 10,273 shares in the company, valued at approximately $1,302,000.02. The trade was a 16.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David S. Ilardi sold 789 shares of the firm's stock in a transaction that occurred on 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 transaction, 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 disclosure for this sale can be found here. Insiders sold 3,224 shares of company stock valued at $406,636 over the last 90 days. Corporate insiders own 0.33% of the company's stock.

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.