Mackenzie Financial Corp Trims Stock Position in Allegion plc (NYSE:ALLE)

Mackenzie Financial Corp trimmed its holdings in shares of Allegion plc (NYSE:ALLE - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 384,255 shares of the scientific and technical instruments company's stock after selling 23,313 shares during the quarter. Mackenzie Financial Corp owned approximately 0.44% of Allegion worth $48,681,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Allegion by 15.8% in the 1st quarter. BlackRock Inc. now owns 8,631,077 shares of the scientific and technical instruments company's stock valued at $921,195,000 after buying an additional 1,176,087 shares in the last quarter. Boston Partners grew its holdings in Allegion by 17.2% in the 3rd quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company's stock valued at $584,157,000 after buying an additional 825,048 shares in the last quarter. State Street Corp grew its holdings in Allegion by 4.8% in the 2nd quarter. State Street Corp now owns 3,871,806 shares of the scientific and technical instruments company's stock valued at $464,694,000 after buying an additional 176,973 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Allegion by 3.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,218,915 shares of the scientific and technical instruments company's stock valued at $335,411,000 after buying an additional 119,954 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Allegion by 20.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,773,767 shares of the scientific and technical instruments company's stock valued at $289,026,000 after buying an additional 467,772 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALLE has been the subject of several analyst reports. StockNews.com upgraded Allegion from a "hold" rating to a "buy" rating in a report on Wednesday, April 10th. Wells Fargo & Company downgraded Allegion from an "overweight" rating to an "equal weight" rating and raised their price objective for the stock from $139.00 to $140.00 in a research report on Wednesday, February 21st. Barclays raised their price objective on Allegion from $121.00 to $122.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 2nd. UBS Group raised their price objective on Allegion from $113.00 to $132.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Mizuho downgraded Allegion from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $140.00 to $141.00 in a research report on Friday, February 23rd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Allegion has an average rating of "Hold" and a consensus price target of $127.83.

Insider Activity

In related news, CEO John H. Stone acquired 10,000 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average price of $132.41 per share, for a total transaction of $1,324,100.00. Following the purchase, the chief executive officer now owns 104,248 shares of the company's stock, valued at approximately $13,803,477.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Allegion news, CEO John H. Stone bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average price of $132.41 per share, for a total transaction of $1,324,100.00. Following the completion of the purchase, the chief executive officer now directly owns 104,248 shares in the company, valued at $13,803,477.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert C. Martens sold 5,391 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total value of $716,140.44. Following the sale, the senior vice president now owns 7,555 shares of the company's stock, valued at approximately $1,003,606.20. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

Allegion Trading Down 0.5 %

NYSE ALLE traded down $0.60 during trading on Wednesday, hitting $125.78. The stock had a trading volume of 566,284 shares, compared to its average volume of 721,601. The company has a market capitalization of $11.01 billion, a PE ratio of 20.65, a PEG ratio of 4.57 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. The firm has a 50 day moving average price of $131.06 and a 200 day moving average price of $118.65. Allegion plc has a twelve month low of $95.94 and a twelve month high of $136.91.

Allegion (NYSE:ALLE - Get Free Report) last released its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $897.40 million during the quarter, compared to the consensus estimate of $904.17 million. Allegion had a return on equity of 51.95% and a net margin of 14.80%. Allegion's revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 EPS. As a group, equities research analysts forecast that Allegion plc will post 7.01 earnings per share for the current year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, June 13th. Allegion's payout ratio is presently 31.37%.

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.