Allegion plc (NYSE:ALLE) Stake Cut by V Square Quantitative Management LLC

V Square Quantitative Management LLC cut its position in shares of Allegion plc (NYSE:ALLE) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,817 shares of the scientific and technical instruments company’s stock after selling 138 shares during the period. V Square Quantitative Management LLC’s holdings in Allegion were worth $368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALLE. Lord Abbett & CO. LLC raised its stake in shares of Allegion by 96.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after purchasing an additional 823,874 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Allegion by 397.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 606,901 shares of the scientific and technical instruments company’s stock worth $88,450,000 after purchasing an additional 484,995 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Allegion during the 3rd quarter worth about $666,840,000. Van ECK Associates Corp raised its stake in shares of Allegion by 8.1% during the 4th quarter. Van ECK Associates Corp now owns 3,436,127 shares of the scientific and technical instruments company’s stock worth $449,033,000 after purchasing an additional 257,175 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Allegion by 13.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock worth $277,581,000 after purchasing an additional 232,395 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Allegion

In other news, CEO John H. Stone acquired 7,500 shares of the firm’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 acquisition, the chief executive officer now owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This trade represents a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ALLE shares. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley assumed coverage on Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 price objective on the stock. Wells Fargo & Company lowered their price objective on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird increased their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Barclays lowered their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $140.83.

Allegion Stock Performance

ALLE opened at $133.51 on Monday. The firm has a market capitalization of $11.61 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 3.19 and a beta of 1.11. The stock’s 50 day moving average price is $132.30 and its two-hundred day moving average price is $137.41. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10.

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 issued a $0.51 dividend. 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 1.53%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is 29.49%.

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.