Assetmark Inc. Boosts Holdings in Allegion plc (NYSE:ALLE)

Assetmark Inc. boosted its holdings in shares of Allegion plc (NYSE:ALLE) by 158.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 23,593 shares of the scientific and technical instruments company’s stock after purchasing an additional 14,481 shares during the period. Assetmark Inc.’s holdings in Allegion were worth $3,083,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ALLE. Principal Financial Group Inc. grew its position in Allegion by 2.4% during the 3rd quarter. Principal Financial Group Inc. now owns 122,481 shares of the scientific and technical instruments company’s stock worth $17,850,000 after purchasing an additional 2,878 shares during the last quarter. Portside Wealth Group LLC grew its position in Allegion by 6.9% during the 3rd quarter. Portside Wealth Group LLC now owns 2,694 shares of the scientific and technical instruments company’s stock worth $393,000 after purchasing an additional 174 shares during the last quarter. Covestor Ltd grew its position in Allegion by 29.1% during the 3rd quarter. Covestor Ltd now owns 617 shares of the scientific and technical instruments company’s stock worth $90,000 after purchasing an additional 139 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Allegion by 55.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 209,917 shares of the scientific and technical instruments company’s stock worth $30,593,000 after purchasing an additional 74,577 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Allegion in the third quarter valued at about $243,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Stock Up 3.1 %

Shares of NYSE ALLE opened at $131.36 on Monday. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10. The firm has a 50-day moving average price of $130.02 and a 200 day moving average price of $137.15. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE) last announced its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.75 by $0.11. The firm had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. Equities research analysts anticipate that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 1.55%. This is a boost from Allegion’s previous quarterly dividend of $0.48. Allegion’s payout ratio is presently 29.91%.

Wall Street Analysts Forecast Growth

ALLE has been the topic of several analyst reports. Robert W. Baird lowered their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Morgan Stanley lifted their target price on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Wells Fargo & Company lowered their target price on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a report on Friday. Finally, Barclays lowered their target price on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $138.33.

Insiders Place Their Bets

In other news, SVP David S. Ilardi sold 789 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the completion of the transaction, the senior vice president now owns 9,625 shares of the company’s stock, valued at $1,205,820. The trade was a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Nickolas A. Musial sold 403 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 of the company’s stock, valued at approximately $620,008.40. This represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

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.