Massachusetts Wealth Management Acquires Shares of 1,519 Allegion plc (NYSE:ALLE)

Massachusetts Wealth Management bought a new position in shares of Allegion plc (NYSE:ALLE) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,519 shares of the scientific and technical instruments company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CVA Family Office LLC acquired a new position in Allegion during the fourth quarter valued at approximately $28,000. Ancora Advisors LLC increased its position in shares of Allegion by 153.3% in the 3rd quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 230 shares in the last quarter. Headinvest LLC bought a new stake in shares of Allegion in the 3rd quarter valued at $48,000. Signaturefd LLC raised its stake in Allegion by 20.9% during the 4th quarter. Signaturefd LLC now owns 765 shares of the scientific and technical instruments company’s stock worth $97,000 after buying an additional 132 shares during the period. Finally, Allworth Financial LP lifted its holdings in Allegion by 11.8% during the fourth quarter. Allworth Financial LP now owns 982 shares of the scientific and technical instruments company’s stock worth $124,000 after acquiring an additional 104 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Insider Activity at Allegion

In related news, SVP Tracy L. Kemp sold 2,194 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the transaction, the senior vice president now directly owns 11,103 shares of the company’s stock, valued at $1,354,343.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALLE. UBS Group raised their price target on Allegion from $113.00 to $132.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Barclays downgraded shares of Allegion from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $122.00 to $116.00 in a report on Tuesday, June 4th. Finally, StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $126.83.

Allegion Stock Down 0.4 %

NYSE ALLE traded down $0.42 during trading on Thursday, hitting $115.69. The stock had a trading volume of 247,369 shares, compared to its average volume of 746,808. The company has a market capitalization of $10.12 billion, a PE ratio of 18.87, a P/E/G ratio of 3.65 and a beta of 1.13. Allegion plc has a 12 month low of $95.94 and a 12 month high of $136.91. The company’s 50-day moving average price is $120.59 and its two-hundred day moving average price is $125.28. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.87 and a current ratio of 1.31.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Thursday, April 25th. The scientific and technical instruments company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The business 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%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 earnings per share. As a group, sell-side analysts forecast that Allegion plc will post 7.09 EPS for the current year.

Allegion Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, June 14th. Allegion’s payout ratio 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.