Allegion plc (NYSE:ALLE) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its holdings in Allegion plc (NYSE:ALLE - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 844,869 shares of the scientific and technical instruments company's stock after selling 20,955 shares during the quarter. Russell Investments Group Ltd. owned 0.96% of Allegion worth $107,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Boston Partners raised its stake in shares of Allegion by 17.2% in the third quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company's stock worth $584,157,000 after purchasing an additional 825,048 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Allegion by 3.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,218,915 shares of the scientific and technical instruments company's stock worth $335,411,000 after acquiring an additional 119,954 shares during the period. Van ECK Associates Corp grew its holdings in shares of Allegion by 20.3% in the third quarter. Van ECK Associates Corp now owns 2,773,767 shares of the scientific and technical instruments company's stock worth $289,026,000 after acquiring an additional 467,772 shares during the period. Invesco Ltd. grew its holdings in shares of Allegion by 11.7% in the third quarter. Invesco Ltd. now owns 1,467,586 shares of the scientific and technical instruments company's stock worth $152,922,000 after acquiring an additional 153,806 shares during the period. Finally, Brown Advisory Inc. grew its holdings in shares of Allegion by 2.5% in the third quarter. Brown Advisory Inc. now owns 1,425,248 shares of the scientific and technical instruments company's stock worth $148,511,000 after acquiring an additional 34,342 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Insider Buying and Selling at Allegion

In other news, VP Timothy P. Eckersley sold 5,047 shares of the company's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $129.99, for a total transaction of $656,059.53. Following the transaction, the vice president now owns 35,567 shares of the company's stock, valued at $4,623,354.33. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Robert C. Martens sold 5,391 shares of the company'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 transaction of $716,140.44. Following the transaction, the senior vice president now owns 7,555 shares of the company's stock, valued at $1,003,606.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Timothy P. Eckersley sold 5,047 shares of the stock in a transaction that occurred on 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 directly owns 35,567 shares in the company, valued at approximately $4,623,354.33. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

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

Allegion Price Performance

Shares of NYSE:ALLE traded down $1.02 during mid-day trading on Friday, reaching $123.85. The stock had a trading volume of 975,466 shares, compared to its average volume of 489,776. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 1.18. The company has a market cap of $10.83 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 4.46 and a beta of 1.14. Allegion plc has a 1 year low of $95.94 and a 1 year high of $136.91. The business's 50 day moving average price is $130.14 and its 200 day moving average price is $119.85.

Allegion (NYSE:ALLE - Get Free Report) last posted its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.14. Allegion had a return on equity of 48.58% and a net margin of 14.93%. The company had revenue of $893.90 million for the quarter, compared to the consensus estimate of $888.27 million. During the same period in the previous year, the business earned $1.58 earnings per share. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. Research analysts expect that Allegion plc will post 7.08 EPS for the current fiscal year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a yield of 1.55%. Allegion's dividend payout ratio (DPR) is presently 31.32%.

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.