Platinum Investment Management Ltd. Raises Stock Position in Allegion plc (NYSE:ALLE)

Platinum Investment Management Ltd. grew its stake in Allegion plc (NYSE:ALLE) by 39.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,948 shares of the scientific and technical instruments company’s stock after purchasing an additional 12,441 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Allegion were worth $5,568,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CVA Family Office LLC purchased a new stake in shares of Allegion in the 4th quarter valued at approximately $28,000. Ancora Advisors LLC grew its holdings in Allegion by 153.3% during the 3rd quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock worth $40,000 after acquiring an additional 230 shares in the last quarter. Headinvest LLC acquired a new position in Allegion during the 3rd quarter worth approximately $48,000. Itau Unibanco Holding S.A. acquired a new position in Allegion during the 3rd quarter worth approximately $60,000. Finally, Huntington National Bank grew its holdings in Allegion by 19.5% during the 3rd quarter. Huntington National Bank now owns 638 shares of the scientific and technical instruments company’s stock worth $66,000 after acquiring an additional 104 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALLE has been the subject of several analyst reports. Barclays cut shares of Allegion from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $122.00 to $116.00 in a report on Tuesday, June 4th. UBS Group upped their target price on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. StockNews.com cut shares of Allegion from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. Mizuho cut shares of Allegion from a “buy” rating to a “neutral” rating and upped their target price for the company from $140.00 to $141.00 in a report on Friday, February 23rd. Finally, Wells Fargo & Company downgraded shares of Allegion from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $139.00 to $140.00 in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, Allegion presently has a consensus rating of “Hold” and a consensus target price of $126.83.

Insider Activity

In other Allegion news, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the sale, the vice president now directly owns 35,567 shares in the company, valued at $4,623,354.33. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Allegion news, VP Timothy P. Eckersley sold 5,047 shares of Allegion stock in a transaction dated 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 approximately $4,623,354.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Tracy L. Kemp sold 2,194 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total value of $267,624.12. Following the completion of the sale, the senior vice president now directly owns 11,103 shares of the company’s stock, valued at approximately $1,354,343.94. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Allegion Trading Down 0.5 %

NYSE ALLE traded down $0.59 during mid-day trading on Friday, hitting $116.93. The company’s stock had a trading volume of 372,627 shares, compared to its average volume of 544,974. Allegion plc has a 52-week low of $95.94 and a 52-week high of $136.91. The stock’s fifty day simple moving average is $124.93 and its two-hundred day simple moving average is $124.16. 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 firm has a market capitalization of $10.22 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 3.68 and a beta of 1.16.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.45 by $0.10. The firm had revenue of $893.90 million for the quarter, compared to analyst estimates of $888.27 million. Allegion had a net margin of 14.93% and a return on equity of 48.58%. Allegion’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 earnings per share. Research analysts expect that Allegion plc will post 7.08 EPS for the current year.

Allegion Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Friday, June 14th. Allegion’s dividend payout ratio (DPR) is 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.