Allegion plc (NYSE:ALLE) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Allegion plc (NYSE:ALLE - Free Report) by 32.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,637 shares of the scientific and technical instruments company's stock after selling 12,484 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Allegion were worth $3,248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Alliance raised its position in shares of Allegion by 12.5% in the 4th quarter. Wealth Alliance now owns 2,256 shares of the scientific and technical instruments company's stock worth $286,000 after acquiring an additional 251 shares in the last quarter. Romano Brothers AND Company acquired a new position in Allegion during the 4th quarter valued at about $218,000. Louisiana State Employees Retirement System acquired a new position in Allegion during the 4th quarter valued at about $671,000. Keystone Financial Services acquired a new position in Allegion during the 4th quarter valued at about $217,000. Finally, NewEdge Wealth LLC increased its position in Allegion by 3.5% during the 4th quarter. NewEdge Wealth LLC now owns 24,785 shares of the scientific and technical instruments company's stock valued at $3,140,000 after buying an additional 840 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Timothy P. Eckersley sold 5,047 shares of the company's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $129.99, for a total value of $656,059.53. Following the completion of the transaction, the vice president now owns 35,567 shares of the company's stock, valued at approximately $4,623,354.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Allegion news, SVP Robert C. Martens sold 5,391 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total transaction of $716,140.44. Following the completion of the transaction, the senior vice president now owns 7,555 shares of the company's stock, valued at $1,003,606.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Timothy P. Eckersley sold 5,047 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the transaction, the vice president now directly owns 35,567 shares of the company's stock, valued at approximately $4,623,354.33. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALLE. Wells Fargo & Company lowered Allegion from an "overweight" rating to an "equal weight" rating and upped their target price for the company from $139.00 to $140.00 in a research report on Wednesday, February 21st. Barclays boosted their price target on Allegion from $121.00 to $122.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 2nd. UBS Group boosted their price target on Allegion from $113.00 to $132.00 and gave the company a "neutral" rating in a research note on Tuesday, April 16th. StockNews.com upgraded Allegion from a "hold" rating to a "buy" rating in a research note on Wednesday, April 10th. Finally, Mizuho downgraded Allegion from a "buy" rating to a "neutral" rating and boosted their price target for the company from $140.00 to $141.00 in a research note on Friday, February 23rd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $127.83.

Allegion Stock Performance

Shares of ALLE traded up $1.55 during mid-day trading on Tuesday, reaching $126.97. The company had a trading volume of 612,260 shares, compared to its average volume of 711,088. Allegion plc has a 52-week low of $95.94 and a 52-week high of $136.91. 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 stock has a market capitalization of $11.12 billion, a P/E ratio of 20.75, a PEG ratio of 4.51 and a beta of 1.14. The stock has a 50 day moving average of $130.57 and a two-hundred day moving average of $119.44.

Allegion (NYSE:ALLE - Get Free Report) last issued its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.09. Allegion had a return on equity of 51.95% and a net margin of 14.80%. The firm had revenue of $897.40 million for the quarter, compared to the consensus estimate of $904.17 million. During the same quarter in the prior year, the business earned $1.60 earnings per share. The company's revenue was up 4.2% compared to the same quarter last year. On average, analysts expect that Allegion plc will post 7.01 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.48 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a yield of 1.51%. Allegion's payout ratio is 31.37%.

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.