State of Tennessee Department of Treasury Has $9.52 Million Stake in Allegion plc (NYSE:ALLE)

State of Tennessee Department of Treasury grew its holdings in shares of Allegion plc (NYSE:ALLE - Free Report) by 62.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,843 shares of the scientific and technical instruments company's stock after purchasing an additional 27,986 shares during the quarter. State of Tennessee Department of Treasury owned approximately 0.08% of Allegion worth $9,519,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ALLE. Millstone Evans Group LLC acquired a new stake in shares of Allegion in the 4th quarter worth $28,000. Atala Financial Inc acquired a new stake in shares of Allegion during the 4th quarter worth approximately $35,000. GeoWealth Management LLC lifted its holdings in Allegion by 259.3% in the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company's stock valued at $40,000 after acquiring an additional 223 shares during the last quarter. Private Trust Co. NA grew its position in Allegion by 56.1% in the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company's stock worth $42,000 after acquiring an additional 115 shares during the period. Finally, Tortoise Investment Management LLC raised its position in Allegion by 78.0% in the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company's stock valued at $51,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 92.21% of the company's stock.

Allegion Price Performance

NYSE ALLE traded up $0.50 during mid-day trading on Tuesday, hitting $137.76. The stock had a trading volume of 159,001 shares, compared to its average volume of 828,251. The company has a 50 day simple moving average of $127.48 and a 200 day simple moving average of $133.54. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 3.97 and a beta of 1.01. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32.

Allegion (NYSE:ALLE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.18. The firm had revenue of $941.90 million during the quarter, compared to analysts' expectations of $918.53 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The firm's revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.55 EPS. Equities analysts forecast that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Friday, June 13th. Allegion's dividend payout ratio is currently 28.65%.

Analysts Set New Price Targets

A number of research firms have commented on ALLE. StockNews.com cut shares of Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Wells Fargo & Company reduced their price target on shares of Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Robert W. Baird raised their price target on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday. Morgan Stanley increased their price target on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Finally, Barclays lifted their price objective on Allegion from $126.00 to $128.00 and gave the company an "underweight" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $140.40.

Insider Transactions at Allegion

In related news, SVP David S. Ilardi sold 789 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the sale, the senior vice president now directly owns 9,625 shares in the company, valued at $1,205,820. The trade was a 7.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregg C. Sengstack bought 8,000 shares of Allegion stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the acquisition, the director now directly owns 8,000 shares of the company's stock, valued at $1,001,920. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is currently owned by company insiders.

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.