Greenwich Wealth Management LLC Cuts Stock Holdings in Allegion plc (NYSE:ALLE)

Greenwich Wealth Management LLC trimmed its holdings in shares of Allegion plc (NYSE:ALLE) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,722 shares of the scientific and technical instruments company’s stock after selling 122 shares during the period. Greenwich Wealth Management LLC’s holdings in Allegion were worth $1,865,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ALLE. BlackRock Inc. boosted its position in Allegion by 15.8% during the first quarter. BlackRock Inc. now owns 8,631,077 shares of the scientific and technical instruments company’s stock valued at $921,195,000 after buying an additional 1,176,087 shares during the period. Boston Partners raised its stake in shares of Allegion by 17.2% during the third quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company’s stock valued at $584,157,000 after acquiring an additional 825,048 shares during the last quarter. Norges Bank bought a new position in shares of Allegion during the fourth quarter valued at about $76,640,000. Hawk Ridge Capital Management LP bought a new position in shares of Allegion during the third quarter valued at about $53,142,000. Finally, Lord Abbett & CO. LLC raised its stake in shares of Allegion by 183.2% during the third quarter. Lord Abbett & CO. LLC now owns 774,325 shares of the scientific and technical instruments company’s stock valued at $80,684,000 after acquiring an additional 500,924 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allegion

In other Allegion news, VP Timothy P. Eckersley sold 5,047 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $129.99, for a total transaction 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 $4,623,354.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO John H. Stone purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $132.41 per share, for a total transaction of $1,324,100.00. Following the completion of the acquisition, 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 document filed with the SEC, which is accessible through the SEC website. 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 transaction of $656,059.53. Following the sale, the vice president now owns 35,567 shares in the company, valued at approximately $4,623,354.33. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Allegion Trading Up 0.3 %

ALLE stock traded up $0.37 during trading on Friday, reaching $125.21. The company had a trading volume of 328,253 shares, compared to its average volume of 416,976. Allegion plc has a 52 week low of $95.94 and a 52 week high of $136.91. The company has a market cap of $10.96 billion, a P/E ratio of 20.46, a PEG ratio of 4.51 and a beta of 1.14. The business has a 50 day moving average of $130.79 and a 200 day moving average of $119.11. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85.

Allegion (NYSE:ALLE) last announced its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The business had revenue of $897.40 million during the quarter, compared to the consensus estimate of $904.17 million. During the same quarter last year, the firm earned $1.60 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Allegion plc will post 7.01 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Thursday, June 13th. Allegion’s dividend payout ratio is 31.37%.

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 upped their price objective for the company from $140.00 to $141.00 in a research note on Friday, February 23rd. UBS Group upped their price objective on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Wells Fargo & Company downgraded shares of Allegion from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $139.00 to $140.00 in a research note on Wednesday, February 21st. Barclays increased their price target on shares of Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $127.83.

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.