Tower Research Capital LLC TRC Purchases 5,119 Shares of Allegion plc (NYSE:ALLE)

Tower Research Capital LLC TRC increased its holdings in Allegion plc (NYSE:ALLE) by 310.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,766 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,119 shares during the period. Tower Research Capital LLC TRC’s holdings in Allegion were worth $884,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Fiduciary Management Inc. WI purchased a new position in Allegion during the fourth quarter worth $116,484,000. Norges Bank purchased a new position in shares of Allegion during the 4th quarter worth about $108,058,000. Lord Abbett & CO. LLC grew its holdings in Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after purchasing an additional 823,874 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Allegion in the 4th quarter worth about $65,175,000. Finally, Boston Partners lifted its stake in Allegion by 11.6% in the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock worth $616,503,000 after purchasing an additional 488,390 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Allegion Stock Down 2.2 %

Shares of Allegion stock opened at $136.50 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. The stock has a market cap of $11.76 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 3.97 and a beta of 1.01. The firm’s 50-day moving average is $127.27 and its two-hundred day moving average is $133.78. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10.

Allegion (NYSE:ALLE) last released its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.18. The firm had revenue of $941.90 million for the quarter, compared to the consensus estimate of $918.53 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. As a group, research analysts expect that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued 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 dividend yield of 1.49%. Allegion’s dividend payout ratio is presently 29.91%.

Wall Street Analyst Weigh In

ALLE has been the topic of several recent analyst reports. 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. Robert W. Baird increased their target price on Allegion from $144.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Barclays raised their price target on shares of Allegion from $126.00 to $128.00 and gave the stock an “underweight” rating in a research note on Friday. Finally, Wells Fargo & Company lowered their price objective 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. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, Allegion currently has an average rating of “Hold” and an average target price of $140.40.

Insider Transactions at Allegion

In other Allegion news, SVP Tracy L. Kemp sold 2,032 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the sale, the senior vice president now directly owns 10,273 shares in the company, valued at $1,302,000.02. This trade represents a 16.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Nickolas A. Musial sold 403 shares of Allegion stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,224 shares of company stock valued at $406,636. Corporate insiders own 0.33% of the company’s stock.

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.