Insider Selling: Allegion plc (NYSE:ALLE) CAO Sells 403 Shares of Stock

Allegion plc (NYSE:ALLE) CAO Nickolas A. Musial sold 403 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the sale, the chief accounting officer now directly owns 4,972 shares of the company’s stock, valued at $620,008.40. This represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Allegion Trading Up 0.4 %

ALLE opened at $126.40 on Thursday. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The firm has a market capitalization of $10.99 billion, a P/E ratio of 19.42, a P/E/G ratio of 3.29 and a beta of 1.11. 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 firm’s 50 day moving average is $131.57 and its 200-day moving average is $137.32.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a return on equity of 45.64% and a net margin of 15.36%. The company had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Analysts expect that Allegion plc will post 7.42 EPS for the current fiscal year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is a positive change from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, March 14th. Allegion’s dividend payout ratio (DPR) is currently 29.49%.

Institutional Investors Weigh In On Allegion

Institutional investors have recently modified their holdings of the stock. Fiduciary Management Inc. WI bought a new position in Allegion during the fourth quarter worth $116,484,000. Norges Bank bought a new position in shares of Allegion in the 4th quarter worth about $108,058,000. Lord Abbett & CO. LLC boosted its holdings in shares of Allegion by 96.8% in the 3rd 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 period. Raymond James Financial Inc. bought a new stake in shares of Allegion during the 4th quarter valued at about $65,175,000. Finally, Boston Partners raised its stake in Allegion by 11.6% during the fourth quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock worth $616,503,000 after acquiring an additional 488,390 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALLE. Robert W. Baird lowered their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday. Morgan Stanley increased their target price on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Barclays reduced their target price on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $138.33.

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.