Nuveen Asset Management LLC Acquires 102,760 Shares of Allegion plc (NYSE:ALLE)

Nuveen Asset Management LLC raised its holdings in shares of Allegion plc (NYSE:ALLE - Free Report) by 15.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 759,977 shares of the scientific and technical instruments company's stock after purchasing an additional 102,760 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.87% of Allegion worth $99,314,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in Allegion during the 4th quarter valued at $28,000. Colonial Trust Co SC lifted its holdings in Allegion by 192.9% during the 4th 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 stake in Allegion during the 4th quarter valued at $35,000. GeoWealth Management LLC lifted its holdings in Allegion by 259.3% during the 4th 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 lifted its holdings in Allegion by 56.1% during the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock valued at $42,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Insider Activity at Allegion

In other news, CAO Nickolas A. Musial sold 403 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. This trade represents a 7.50% 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 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 transaction, the senior vice president now owns 10,273 shares of the company's stock, valued at $1,302,000.02. This trade represents a 16.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,224 shares of company stock worth $406,636 in the last quarter. 0.33% of the stock is owned by insiders.

Allegion Price Performance

Shares of NYSE ALLE traded down $0.91 during mid-day trading on Tuesday, reaching $143.58. The company had a trading volume of 706,764 shares, compared to its average volume of 845,316. Allegion plc has a one year low of $113.27 and a one year high of $156.10. 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's 50-day simple moving average is $131.60 and its 200 day simple moving average is $133.01. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 3.97 and a beta of 1.02.

Allegion (NYSE:ALLE - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $941.90 million during 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%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $1.55 EPS. On average, research analysts predict that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The firm also recently disclosed 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. 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 1.42%. Allegion's dividend payout ratio (DPR) is presently 28.65%.

Analysts Set New Price Targets

Several research firms have weighed in on ALLE. Robert W. Baird increased their price objective on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Morgan Stanley increased their price objective on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Barclays increased their price objective on Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a research report on Friday, April 25th. StockNews.com cut Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Wells Fargo & Company lowered their price objective on Allegion from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.