Mirae Asset Global Investments Co. Ltd. Lowers Position in Allegion plc (NYSE:ALLE)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Allegion plc (NYSE:ALLE) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,048 shares of the scientific and technical instruments company’s stock after selling 210 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Allegion were worth $1,906,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nordea Investment Management AB boosted its position in Allegion by 1.8% in the 4th 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. Dark Forest Capital Management LP boosted its position in Allegion by 39.7% in the 3rd quarter. Dark Forest Capital Management LP now owns 33,364 shares of the scientific and technical instruments company’s stock worth $3,477,000 after purchasing an additional 9,476 shares in the last quarter. Spire Wealth Management lifted its position in shares of 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 buying an additional 10,272 shares in the last quarter. Morningstar Investment Services LLC lifted its position in shares of 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 buying an additional 7,678 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Allegion by 42.6% during the 3rd quarter. Victory Capital Management Inc. now owns 32,323 shares of the scientific and technical instruments company’s stock valued at $3,368,000 after buying an additional 9,660 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

ALLE has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered Allegion from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $139.00 to $140.00 in a research report on Wednesday, February 21st. UBS Group increased their target price on Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday. Barclays increased their target price on Allegion from $121.00 to $122.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Mizuho lowered Allegion from a “buy” rating to a “neutral” rating and increased their target price for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Finally, StockNews.com upgraded Allegion from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $127.83.

Insider Activity at Allegion

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

Allegion Stock Up 0.3 %

Shares of ALLE opened at $125.18 on Friday. The stock has a fifty day simple moving average of $130.79 and a two-hundred day simple moving average of $118.89. 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 market capitalization of $10.96 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 4.53 and a beta of 1.14. Allegion plc has a 52-week low of $95.94 and a 52-week high of $136.91.

Allegion (NYSE:ALLE) last announced its earnings results 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 return on equity of 51.95% and a net margin of 14.80%. The company had revenue of $897.40 million during the quarter, compared to analysts’ expectations of $904.17 million. During the same period last year, the business posted $1.60 EPS. Allegion’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts forecast that Allegion plc will post 7.01 EPS for the current year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Thursday, June 13th. Allegion’s dividend payout ratio (DPR) is 31.37%.

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.