Allegion plc (NYSE:ALLE) Shares Purchased by Tortoise Investment Management LLC

Tortoise Investment Management LLC boosted its position in shares of Allegion plc (NYSE:ALLE) by 78.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 388 shares of the scientific and technical instruments company’s stock after acquiring an additional 170 shares during the period. Tortoise Investment Management LLC’s holdings in Allegion were worth $51,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Allegion during the 3rd quarter worth about $4,988,000. Crew Capital Management Ltd. increased its stake in Allegion by 224.9% in the fourth quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company’s stock valued at $759,000 after purchasing an additional 4,022 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in Allegion during the third quarter worth approximately $891,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Allegion by 4.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock worth $26,724,000 after buying an additional 8,806 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Allegion by 4.4% in the 4th quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock valued at $154,643,000 after buying an additional 49,176 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Stock Down 4.6 %

ALLE opened at $126.17 on Wednesday. Allegion plc has a 52 week low of $113.27 and a 52 week high of $156.10. The business has a 50 day moving average price of $129.96 and a two-hundred day moving average price of $137.06. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 1.32. The company has a market cap of $10.89 billion, a PE ratio of 18.50, a P/E/G ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The business had revenue of $945.60 million during the quarter, compared to analysts’ expectations of $938.91 million. As a group, research analysts anticipate that Allegion plc will post 7.77 EPS for the current year.

Allegion Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.62%. This is a positive change from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s payout ratio is 29.91%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALLE. Morgan Stanley boosted their price target on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Robert W. Baird reduced their target price on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Barclays dropped their price target on Allegion from $134.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company lowered their target price 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, February 19th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $138.33.

Insider Buying and Selling

In other Allegion news, Director Gregg C. Sengstack acquired 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were purchased at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $1,001,920. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP David S. Ilardi sold 789 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the completion of the sale, the senior vice president now directly owns 9,625 shares of the company’s stock, valued at approximately $1,205,820. This trade represents a 7.58 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Allegion Company 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.