Manning & Napier Advisors LLC Decreases Stake in Allegion plc (NYSE:ALLE)

Manning & Napier Advisors LLC reduced its position in Allegion plc (NYSE:ALLE) by 38.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,460 shares of the scientific and technical instruments company’s stock after selling 8,572 shares during the period. Manning & Napier Advisors LLC’s holdings in Allegion were worth $1,759,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its position in Allegion by 320.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 113,218 shares of the scientific and technical instruments company’s stock valued at $14,795,000 after buying an additional 86,266 shares during the last quarter. Pacer Advisors Inc. boosted its position in Allegion by 17.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,737 shares of the scientific and technical instruments company’s stock valued at $1,011,000 after buying an additional 1,123 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Allegion by 55.8% during the fourth quarter. Blue Trust Inc. now owns 779 shares of the scientific and technical instruments company’s stock worth $102,000 after purchasing an additional 279 shares during the last quarter. Beacon Investment Advisory Services Inc. grew its stake in Allegion by 0.3% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 46,615 shares of the scientific and technical instruments company’s stock worth $6,092,000 after purchasing an additional 125 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Allegion by 383.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 11,460 shares of the scientific and technical instruments company’s stock worth $1,497,000 after purchasing an additional 9,090 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ALLE shares. Morgan Stanley started coverage on Allegion in a research note on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price target for the company. Robert W. Baird lifted their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Barclays decreased their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company decreased their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Mizuho lifted their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, Allegion currently has a consensus rating of “Hold” and an average target price of $140.83.

Allegion Stock Performance

Shares of NYSE ALLE opened at $133.51 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The firm’s 50-day moving average price is $134.73 and its two-hundred day moving average price is $137.31. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The stock has a market capitalization of $11.61 billion, a P/E ratio of 20.51, a P/E/G ratio of 3.26 and a beta of 1.11.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a yield of 1.44%. Allegion’s dividend payout ratio is currently 29.49%.

Insiders Place Their Bets

In other Allegion news, CEO John H. Stone purchased 7,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Allegion 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.