Allegion plc (NYSE:ALLE) Stock Position Lifted by Lazard Asset Management LLC

Lazard Asset Management LLC grew its stake in Allegion plc (NYSE:ALLE - Free Report) by 341.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,646 shares of the scientific and technical instruments company's stock after acquiring an additional 133,509 shares during the quarter. Lazard Asset Management LLC owned about 0.20% of Allegion worth $22,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in Allegion in the fourth quarter valued at $28,000. Colonial Trust Co SC increased its stake in Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company's stock valued at $33,000 after purchasing an additional 164 shares during the last quarter. Atala Financial Inc acquired a new position in Allegion in the fourth quarter valued at $35,000. GeoWealth Management LLC increased its stake in Allegion by 259.3% in the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock valued at $40,000 after purchasing an additional 223 shares during the last quarter. Finally, Private Trust Co. NA increased its stake in Allegion by 56.1% during the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock worth $42,000 after acquiring an additional 115 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Morgan Stanley upped their price target on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research note 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. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. 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. Finally, Robert W. Baird upped their price target on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, Allegion has an average rating of "Hold" and an average price target of $140.40.

Insider Activity

In related news, SVP Tracy L. Kemp sold 2,032 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the transaction, the chief accounting officer now directly owns 4,972 shares of the company's stock, 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 sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is currently owned by corporate insiders.

Allegion Stock Up 2.0%

Shares of ALLE stock traded up $2.80 during trading hours on Friday, reaching $145.71. The company had a trading volume of 764,293 shares, compared to its average volume of 845,119. 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 plc has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a market capitalization of $12.54 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 3.97 and a beta of 1.02. The stock's fifty day simple moving average is $130.80 and its 200 day simple moving average is $133.02.

Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating 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 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 firm earned $1.55 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

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 paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.40%. Allegion's dividend payout ratio (DPR) is currently 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.