Victory Capital Management Inc. cut its holdings in shares of Allegion PLC (NYSE:ALLE) by 10.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,439 shares of the scientific and technical instruments company’s stock after selling 5,655 shares during the period. Victory Capital Management Inc.’s holdings in Allegion were worth $4,212,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Murphy Pohlad Asset Management LLC acquired a new stake in Allegion in the fourth quarter valued at $31,000. Financial Gravity Wealth Inc. acquired a new stake in Allegion in the first quarter valued at $56,000. Ledyard National Bank acquired a new stake in Allegion in the fourth quarter valued at $53,000. Exane Asset Management acquired a new stake in Allegion in the fourth quarter valued at $78,000. Finally, Enlightenment Research LLC acquired a new stake in Allegion in the fourth quarter valued at $88,000. Hedge funds and other institutional investors own 92.94% of the company’s stock.
Allegion stock traded up $0.18 during trading hours on Friday, reaching $99.28. 934,767 shares of the company’s stock were exchanged, compared to its average volume of 763,334. The company has a current ratio of 1.75, a quick ratio of 1.14 and a debt-to-equity ratio of 2.20. Allegion PLC has a twelve month low of $74.83 and a twelve month high of $102.54. The company has a market cap of $9.33 billion, a P/E ratio of 22.06, a PEG ratio of 1.90 and a beta of 1.20.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.09%. Allegion’s payout ratio is currently 24.00%.
A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Allegion from a “hold” rating to a “sell” rating in a report on Wednesday, February 6th. Imperial Capital restated an “in-line” rating and issued a $102.00 price objective (up from $96.00) on shares of Allegion in a report on Monday, April 29th. Morgan Stanley set a $100.00 price target on Allegion and gave the stock a “hold” rating in a report on Friday, April 26th. Goldman Sachs Group downgraded Allegion from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $98.00 to $92.00 in a report on Wednesday, February 20th. Finally, ValuEngine downgraded Allegion from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Allegion presently has a consensus rating of “Hold” and an average target price of $97.00.
In other news, VP Chris E. Muhlenkamp sold 12,034 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $88.96, for a total value of $1,070,544.64. Following the completion of the sale, the vice president now directly owns 27,289 shares in the company, valued at approximately $2,427,629.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Timothy P. Eckersley sold 11,175 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $88.95, for a total value of $994,016.25. Following the completion of the sale, the vice president now owns 27,643 shares of the company’s stock, valued at $2,458,844.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,970 shares of company stock valued at $3,351,780. Company insiders own 0.77% of the company’s stock.
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Allegion Company Profile
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.
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