Groesbeck Investment Management Corp NJ Grows Stake in Allegion plc (NYSE:ALLE)

Groesbeck Investment Management Corp NJ lifted its stake in shares of Allegion plc (NYSE:ALLE) by 23.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,529 shares of the scientific and technical instruments company’s stock after purchasing an additional 475 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Allegion were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB increased its stake in shares of Allegion by 1.8% during the fourth quarter. Nordea Investment Management AB now owns 1,310,495 shares of the scientific and technical instruments company’s stock worth $165,516,000 after purchasing an additional 23,155 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Allegion by 214.1% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 242,313 shares of the scientific and technical instruments company’s stock valued at $30,699,000 after acquiring an additional 165,165 shares in the last quarter. Dark Forest Capital Management LP grew its stake in Allegion by 39.7% during the 3rd quarter. Dark Forest Capital Management LP now owns 33,364 shares of the scientific and technical instruments company’s stock valued at $3,477,000 after acquiring an additional 9,476 shares in the last quarter. Spire Wealth Management grew its stake in Allegion by 41.2% during the 3rd quarter. Spire Wealth Management now owns 35,196 shares of the scientific and technical instruments company’s stock valued at $3,667,000 after acquiring an additional 10,272 shares in the last quarter. Finally, Morningstar Investment Services LLC grew its stake in Allegion by 7.9% during the 3rd quarter. Morningstar Investment Services LLC now owns 105,262 shares of the scientific and technical instruments company’s stock valued at $10,975,000 after acquiring an additional 7,678 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Up 0.2 %

Allegion stock traded up $0.31 during mid-day trading on Thursday, reaching $126.09. 178,964 shares of the company’s stock were exchanged, compared to its average volume of 714,257. The company has a market cap of $11.04 billion, a P/E ratio of 20.55, a P/E/G ratio of 4.55 and a beta of 1.14. Allegion plc has a twelve month low of $95.94 and a twelve month high of $136.91. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 1.22. The company has a fifty day moving average of $131.04 and a 200-day moving average of $118.70.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 EPS 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 company had revenue of $897.40 million for the quarter, compared to the consensus estimate of $904.17 million. During the same period in the prior year, the firm posted $1.60 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts expect that Allegion plc will post 7.01 EPS for the current year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, June 13th. Allegion’s dividend payout ratio is presently 31.37%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALLE. Wells Fargo & Company cut 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. StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Barclays boosted their target price on shares of Allegion from $121.00 to $122.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. UBS Group boosted 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. Finally, Mizuho lowered shares of Allegion from a “buy” rating to a “neutral” rating and boosted their target price for the company from $140.00 to $141.00 in a report on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $127.83.

Insider Buying and Selling at Allegion

In other Allegion news, 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 value of $656,059.53. Following the sale, the vice president now directly owns 35,567 shares of the company’s stock, valued at approximately $4,623,354.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Timothy P. Eckersley sold 5,047 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the transaction, the vice president now directly owns 35,567 shares of the company’s stock, valued at approximately $4,623,354.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert C. Martens sold 5,391 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total transaction of $716,140.44. Following the completion of the transaction, the senior vice president now directly owns 7,555 shares in the company, valued at $1,003,606.20. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.