Victory Capital Management Inc. Grows Position in Allegion plc (NYSE:ALLE)

Victory Capital Management Inc. raised its holdings in Allegion plc (NYSE:ALLE - Free Report) by 112.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,737 shares of the scientific and technical instruments company's stock after buying an additional 36,414 shares during the period. Victory Capital Management Inc. owned 0.08% of Allegion worth $8,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ALLE. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Allegion by 2.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,258 shares of the scientific and technical instruments company's stock worth $1,590,000 after buying an additional 342 shares in the last quarter. ING Groep NV bought a new position in shares of Allegion during the third quarter valued at about $1,148,000. Precision Wealth Strategies LLC bought a new stake in Allegion in the third quarter valued at approximately $269,000. Beacon Investment Advisory Services Inc. raised its stake in shares of Allegion by 1.9% during the third quarter. Beacon Investment Advisory Services Inc. now owns 46,395 shares of the scientific and technical instruments company's stock valued at $4,834,000 after acquiring an additional 879 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its position in Allegion by 7.0% during the 3rd quarter. New Mexico Educational Retirement Board now owns 4,582 shares of the scientific and technical instruments company's stock valued at $477,000 after purchasing an additional 300 shares during the period. 92.21% of the stock is owned by institutional investors.

Allegion Stock Up 1.3 %

Shares of NYSE ALLE traded up $1.59 during midday trading on Tuesday, hitting $127.30. 490,599 shares of the company's stock were exchanged, compared to its average volume of 702,501. The firm's fifty day simple moving average is $128.93 and its 200-day simple moving average is $121.91. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.31 and a quick ratio of 0.87. The company has a market cap of $11.13 billion, a PE ratio of 20.77, a P/E/G ratio of 4.49 and a beta of 1.14. 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 issued its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The business had revenue of $893.90 million during the quarter, compared to analysts' expectations of $888.27 million. During the same quarter in the prior year, the business posted $1.58 EPS. The company's revenue for the quarter was down 3.2% on a year-over-year basis. Research analysts predict that Allegion plc will post 7.08 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced 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 1.51%. The ex-dividend date is Thursday, June 13th. Allegion's dividend payout ratio (DPR) is presently 31.32%.

Analysts Set New Price Targets

Several equities analysts have recently commented on ALLE shares. Mizuho downgraded shares of Allegion from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $140.00 to $141.00 in a report on Friday, February 23rd. StockNews.com upgraded Allegion from a "hold" rating to a "buy" rating in a research note on Wednesday, April 10th. 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 raised their price objective on Allegion from $113.00 to $132.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 16th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $127.83.

Insider Buying and Selling at Allegion

In related news, SVP Robert C. Martens sold 5,391 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total transaction of $716,140.44. Following the completion of the sale, the senior vice president now owns 7,555 shares of the company's stock, valued at approximately $1,003,606.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Allegion news, CEO John H. Stone bought 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, with a total value of $1,324,100.00. Following the completion of the transaction, the chief executive officer now directly owns 104,248 shares in the company, valued at approximately $13,803,477.68. The purchase 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 shares were sold at an average price of $132.84, for a total transaction of $716,140.44. Following the transaction, the senior vice president now directly owns 7,555 shares in the company, valued at $1,003,606.20. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Allegion 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.