Allegion PLC $ALLE Shares Bought by Assetmark Inc.

Assetmark Inc. grew its stake in shares of Allegion PLC (NYSE:ALLE) by 22.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 97,541 shares of the scientific and technical instruments company’s stock after purchasing an additional 18,165 shares during the period. Assetmark Inc. owned approximately 0.11% of Allegion worth $17,299,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. State Street Corp boosted its holdings in Allegion by 0.8% during the second quarter. State Street Corp now owns 3,971,235 shares of the scientific and technical instruments company’s stock worth $572,336,000 after buying an additional 31,322 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Allegion by 15.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,573,193 shares of the scientific and technical instruments company’s stock valued at $369,514,000 after acquiring an additional 339,025 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Allegion by 5.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,356,869 shares of the scientific and technical instruments company’s stock worth $417,991,000 after acquiring an additional 113,821 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Allegion by 22.5% in the 2nd quarter. Nordea Investment Management AB now owns 1,509,567 shares of the scientific and technical instruments company’s stock worth $216,095,000 after acquiring an additional 277,241 shares during the period. Finally, Berkshire Hathaway Inc purchased a new position in Allegion in the 2nd quarter valued at approximately $112,433,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Allegion Stock Performance

Shares of ALLE opened at $179.34 on Friday. Allegion PLC has a 1 year low of $116.57 and a 1 year high of $183.11. The company’s 50 day simple moving average is $164.93 and its 200 day simple moving average is $168.10. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 3.28 and a beta of 1.03. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.11 and a current ratio of 1.77.

Allegion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.2%. This is a boost from Allegion’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, March 13th. Allegion’s dividend payout ratio (DPR) is currently 29.77%.

Analysts Set New Price Targets

A number of analysts have commented on ALLE shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Allegion in a research report on Wednesday, January 21st. Robert W. Baird lifted their price target on Allegion from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Wells Fargo & Company reissued a “positive” rating on shares of Allegion in a research note on Tuesday, December 16th. Finally, Barclays cut their target price on shares of Allegion from $187.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Allegion presently has a consensus rating of “Hold” and an average price target of $174.25.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.