Stifel Financial Corp Reduces Holdings in Allegion plc (NYSE:ALLE)

Stifel Financial Corp trimmed its position in Allegion plc (NYSE:ALLE - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,470 shares of the scientific and technical instruments company's stock after selling 6,223 shares during the quarter. Stifel Financial Corp owned approximately 0.15% of Allegion worth $16,527,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Allegion by 28.9% in the 3rd quarter. Barclays PLC now owns 259,793 shares of the scientific and technical instruments company's stock worth $37,861,000 after acquiring an additional 58,268 shares during the last quarter. Virtu Financial LLC bought a new position in Allegion during the 3rd quarter worth approximately $920,000. Anchor Investment Management LLC purchased a new position in Allegion in the 3rd quarter worth approximately $71,000. Wilmington Savings Fund Society FSB bought a new stake in Allegion in the third quarter valued at approximately $311,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Allegion during the third quarter valued at approximately $15,508,000. 92.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Gregg C. Sengstack purchased 8,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was purchased at an average cost of $125.24 per share, with a total value of $1,001,920.00. Following the purchase, the director now owns 8,000 shares in the company, valued at approximately $1,001,920. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Nickolas A. Musial sold 403 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the transaction, the chief accounting officer now owns 4,972 shares in the company, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,224 shares of company stock worth $406,636 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Allegion Stock Performance

ALLE stock traded down $0.32 during midday trading on Thursday, reaching $138.88. 116,376 shares of the company's stock traded hands, compared to its average volume of 829,839. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The stock's 50-day moving average is $127.95 and its 200 day moving average is $133.61. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. The stock has a market cap of $11.97 billion, a P/E ratio of 20.38, a PEG ratio of 3.97 and a beta of 1.01.

Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.18. The business had revenue of $941.90 million during the quarter, compared to analyst estimates of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Allegion's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.55 earnings per share. As a group, analysts anticipate that Allegion plc will post 7.77 EPS for the current year.

Allegion Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 1.47%. Allegion's payout ratio is presently 28.65%.

Wall Street Analysts Forecast Growth

ALLE has been the topic of several recent analyst reports. Morgan Stanley raised their target price on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Robert W. Baird raised their target price on shares of Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Wells Fargo & Company lowered their target price on Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 19th. StockNews.com lowered Allegion from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Barclays boosted their price objective on shares of Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $140.40.

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.