Jacobs Levy Equity Management Inc. Invests $3.26 Million in Allegion plc (NYSE:ALLE)

Jacobs Levy Equity Management Inc. purchased a new position in Allegion plc (NYSE:ALLE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,920 shares of the scientific and technical instruments company's stock, valued at approximately $3,257,000.

A number of other institutional investors also recently bought and sold shares of the stock. Crew Capital Management Ltd. increased its stake in shares of Allegion by 224.9% during the fourth quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company's stock valued at $759,000 after purchasing an additional 4,022 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Allegion by 438.6% during the fourth quarter. Renaissance Technologies LLC now owns 267,700 shares of the scientific and technical instruments company's stock valued at $34,983,000 after purchasing an additional 218,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Allegion by 4.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company's stock valued at $26,724,000 after purchasing an additional 8,806 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Allegion by 73.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 18,761 shares of the scientific and technical instruments company's stock valued at $2,452,000 after purchasing an additional 7,950 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in shares of Allegion during the fourth quarter valued at approximately $4,398,000. 92.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays raised their target price on shares of Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a research note on Friday, April 25th. Robert W. Baird raised their price target on shares of Allegion from $144.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Morgan Stanley raised their price target on shares of Allegion from $137.00 to $139.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $140.40.

Insider Buying and Selling

In related news, Director Gregg C. Sengstack bought 8,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were bought at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the acquisition, the director now owns 8,000 shares of the company's stock, valued at $1,001,920. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the transaction, the chief accounting officer now owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is owned by insiders.

Allegion Stock Down 0.3%

Shares of ALLE traded down $0.48 on Tuesday, hitting $144.01. 142,713 shares of the stock traded hands, compared to its average volume of 843,127. The company has a market capitalization of $12.39 billion, a PE ratio of 21.12, a P/E/G ratio of 3.97 and a beta of 1.02. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. The business has a 50 day simple moving average of $131.60 and a 200 day simple moving average of $133.01. Allegion plc has a one year low of $113.27 and a one year high of $156.10.

Allegion (NYSE:ALLE - Get Free Report) last announced 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 net margin of 15.84% and a return on equity of 45.12%. The company had revenue of $941.90 million during the quarter, compared to the consensus estimate of $918.53 million. During the same quarter last year, the firm earned $1.55 earnings per share. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, June 13th. Allegion's dividend payout ratio is currently 28.65%.

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.