Massachusetts Wealth Management Purchases Shares of 1,519 Allegion plc (NYSE:ALLE)

Massachusetts Wealth Management acquired a new stake in shares of Allegion plc (NYSE:ALLE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,519 shares of the scientific and technical instruments company’s stock, valued at approximately $205,000.

Several other hedge funds have also recently made changes to their positions in ALLE. CVA Family Office LLC acquired a new stake in Allegion during the 4th quarter valued at approximately $28,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Allegion by 19.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 23,634 shares of the scientific and technical instruments company’s stock worth $30,000 after purchasing an additional 3,823 shares during the last quarter. Ancora Advisors LLC lifted its position in Allegion by 153.3% during the third quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 230 shares during the period. Headinvest LLC purchased a new stake in Allegion in the third quarter valued at $48,000. Finally, Signaturefd LLC grew its position in Allegion by 20.9% during the 4th quarter. Signaturefd LLC now owns 765 shares of the scientific and technical instruments company’s stock worth $97,000 after purchasing an additional 132 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Allegion

In related news, SVP Tracy L. Kemp sold 2,194 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $121.98, for a total transaction of $267,624.12. Following the completion of the transaction, the senior vice president now owns 11,103 shares in the company, valued at approximately $1,354,343.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Allegion Price Performance

Shares of Allegion stock traded down $0.42 on Thursday, hitting $115.69. The company’s stock had a trading volume of 247,369 shares, compared to its average volume of 746,808. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 3.65 and a beta of 1.13. Allegion plc has a 1 year low of $95.94 and a 1 year high of $136.91. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.87 and a current ratio of 1.31. The firm has a fifty day moving average price of $120.59 and a 200-day moving average price of $125.28.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Thursday, April 25th. The scientific and technical instruments company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Allegion had a return on equity of 48.58% and a net margin of 14.93%. The business had revenue of $893.90 million during the quarter, compared to analysts’ expectations of $888.27 million. During the same period in the previous year, the business earned $1.58 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Allegion plc will post 7.09 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Friday, June 14th. Allegion’s dividend payout ratio is presently 31.32%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALLE. UBS Group boosted their price objective on Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Barclays downgraded Allegion from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $122.00 to $116.00 in a report on Tuesday, June 4th. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Allegion has an average rating of “Hold” and an average target price of $126.83.

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.