Lord Abbett & CO. LLC Grows Position in Allegion plc (NYSE:ALLE)

Lord Abbett & CO. LLC raised its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 24.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,089,239 shares of the scientific and technical instruments company's stock after purchasing an additional 414,595 shares during the period. Allegion makes up approximately 0.9% of Lord Abbett & CO. LLC's holdings, making the stock its 19th largest holding. Lord Abbett & CO. LLC owned approximately 2.40% of Allegion worth $273,022,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in shares of Allegion in the fourth quarter worth about $28,000. Atala Financial Inc purchased a new position in shares of Allegion in the fourth quarter worth about $35,000. GeoWealth Management LLC increased its holdings in shares of Allegion by 259.3% in the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock worth $40,000 after buying an additional 223 shares during the period. Private Trust Co. NA increased its holdings in shares of Allegion by 56.1% in the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock worth $42,000 after buying an additional 115 shares during the period. Finally, Tortoise Investment Management LLC increased its holdings in shares of Allegion by 78.0% in the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company's stock worth $51,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Stock Down 0.2 %

ALLE traded down $0.25 during trading on Wednesday, reaching $137.95. The stock had a trading volume of 256,370 shares, compared to its average volume of 1,033,444. The stock's 50 day moving average is $127.71 and its two-hundred day moving average is $133.57. 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 capitalization of $11.89 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 3.97 and a beta of 1.01. 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 posted its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.18. The business had revenue of $941.90 million during the quarter, compared to the consensus estimate of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.55 earnings per share. As a group, analysts expect that Allegion plc will post 7.77 earnings per share for the current year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued 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 1.48%. Allegion's dividend payout ratio (DPR) is 28.65%.

Insiders Place Their Bets

In other news, SVP David S. Ilardi sold 789 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was 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 directly owns 9,625 shares in the company, valued at $1,205,820. This trade represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm'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 of the company's stock, valued at $1,302,000.02. The trade was a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.