Brandywine Global Investment Management LLC Has $6.75 Million Stake in Allegion plc (NYSE:ALLE)

Brandywine Global Investment Management LLC lessened its position in Allegion plc (NYSE:ALLE) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,668 shares of the scientific and technical instruments company’s stock after selling 2,554 shares during the period. Brandywine Global Investment Management LLC’s holdings in Allegion were worth $6,752,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Allegion in the fourth quarter worth $108,058,000. Lord Abbett & CO. LLC lifted its holdings in 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 buying an additional 823,874 shares during the period. Raymond James Financial Inc. acquired a new position in Allegion during the 4th quarter worth about $65,175,000. Boston Partners grew its position in shares of Allegion by 11.6% in the 4th quarter. Boston Partners now owns 4,716,756 shares of the scientific and technical instruments company’s stock valued at $616,503,000 after buying an additional 488,390 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Allegion by 397.8% in the third 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 valued at $88,450,000 after buying an additional 484,995 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP David S. Ilardi sold 789 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total transaction 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 $1,205,820. The trade was a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Nickolas A. Musial sold 403 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at approximately $620,008.40. The trade was a 7.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,224 shares of company stock worth $406,636. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ALLE. StockNews.com cut Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Wells Fargo & Company decreased their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Barclays dropped their target price on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a report on Wednesday, March 26th. Morgan Stanley increased their price target on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Finally, Robert W. Baird dropped their price objective on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $137.67.

Allegion Price Performance

Shares of NYSE ALLE opened at $130.80 on Wednesday. The firm has a market capitalization of $11.29 billion, a P/E ratio of 19.18, a P/E/G ratio of 3.97 and a beta of 1.11. The firm’s 50-day moving average price is $129.40 and its 200-day moving average price is $136.11. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10.

Allegion (NYSE:ALLE) last announced its quarterly earnings results 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. The business had revenue of $945.60 million for the quarter, compared to analyst estimates of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Equities research analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s payout ratio is 29.91%.

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.