Oregon Public Employees Retirement Fund raised its stake in Allegion PLC (NYSE:ALLE) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,988 shares of the scientific and technical instruments company’s stock after buying an additional 776 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Allegion were worth $2,863,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Allegion by 10.8% in the second quarter. BlackRock Inc. now owns 8,406,547 shares of the scientific and technical instruments company’s stock worth $929,344,000 after acquiring an additional 821,079 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Allegion by 233.5% in the third quarter. Millennium Management LLC now owns 672,229 shares of the scientific and technical instruments company’s stock worth $69,676,000 after acquiring an additional 470,669 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Allegion by 32.5% in the third quarter. Teacher Retirement System of Texas now owns 633,564 shares of the scientific and technical instruments company’s stock worth $65,669,000 after acquiring an additional 155,512 shares in the last quarter. James Hambro & Partners bought a new stake in shares of Allegion in the fourth quarter worth about $11,992,000. Finally, First Trust Advisors LP increased its holdings in shares of Allegion by 73.8% in the third quarter. First Trust Advisors LP now owns 165,736 shares of the scientific and technical instruments company’s stock worth $17,179,000 after acquiring an additional 70,371 shares in the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:ALLE opened at $138.90 on Friday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.30 and a current ratio of 1.90. The company has a market cap of $12.71 billion, a PE ratio of 28.33, a PEG ratio of 2.17 and a beta of 1.18. Allegion PLC has a 52-week low of $85.96 and a 52-week high of $139.24. The stock has a 50-day simple moving average of $128.37 and a 200 day simple moving average of $113.32.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.32 per share. The ex-dividend date is Monday, March 16th. This is an increase from Allegion’s previous quarterly dividend of $0.27. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.92%. Allegion’s dividend payout ratio (DPR) is presently 24.00%.
Allegion declared that its board has initiated a share buyback program on Thursday, February 6th that permits the company to buyback $800.00 million in shares. This buyback authorization permits the scientific and technical instruments company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
Several equities research analysts have issued reports on ALLE shares. Credit Suisse Group downgraded Allegion from a “neutral” rating to an “underperform” rating and set a $114.00 price target for the company. in a report on Monday, January 6th. Zacks Investment Research upgraded Allegion from a “sell” rating to a “buy” rating and set a $120.00 price target for the company in a report on Monday, October 28th. Imperial Capital increased their price target on Allegion from $105.00 to $116.00 and gave the stock an “in-line” rating in a report on Monday, October 28th. They noted that the move was a valuation call. Morgan Stanley increased their price target on Allegion from $105.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Co increased their price target on Allegion from $125.00 to $132.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $120.00.
In related news, VP Timothy P. Eckersley sold 10,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $119.74, for a total transaction of $1,197,400.00. Following the completion of the transaction, the vice president now directly owns 37,710 shares in the company, valued at $4,515,395.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.77% of the stock is currently owned by company insiders.
Allegion Company Profile
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.
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