Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in Allegion plc (NYSE:ALLE)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Allegion plc (NYSE:ALLE) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,791 shares of the scientific and technical instruments company’s stock after purchasing an additional 148 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Allegion were worth $1,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Allegion by 1.2% in the third quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after acquiring an additional 49,929 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Allegion by 1.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock valued at $479,577,000 after purchasing an additional 39,905 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Allegion by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock worth $306,699,000 after buying an additional 8,023 shares during the period. Massachusetts Financial Services Co. MA lifted its position in 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 acquiring an additional 232,395 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in Allegion by 96.8% in the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock valued at $244,063,000 after buying an additional 823,874 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ALLE shares. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley assumed coverage on shares of Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price target on the stock. Robert W. Baird lifted their price objective on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Mizuho upped their target price on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Barclays reduced their price target on Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $140.83.

Allegion Price Performance

Shares of Allegion stock opened at $131.60 on Wednesday. The firm has a market cap of $11.44 billion, a PE ratio of 20.22, a P/E/G ratio of 3.19 and a beta of 1.11. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The business has a 50-day moving average price of $132.96 and a 200 day moving average price of $137.56.

Allegion Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.55%. This is an increase from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. Allegion’s dividend payout ratio is presently 29.49%.

Insider Activity

In related news, CEO John H. Stone acquired 7,500 shares of Allegion stock in a transaction on Tuesday, December 3rd. The stock was bought at an average cost of $140.70 per share, for a total transaction of $1,055,250.00. Following the completion of the transaction, the chief executive officer now owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.33% of the company’s stock.

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.