Russell Investments Group Ltd. Cuts Position in Allegion plc (NYSE:ALLE)

Russell Investments Group Ltd. lessened its position in Allegion plc (NYSE:ALLE) by 2.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 844,869 shares of the scientific and technical instruments company’s stock after selling 20,955 shares during the period. Russell Investments Group Ltd.’s holdings in Allegion were worth $107,039,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALLE. CVA Family Office LLC purchased a new stake in Allegion during the fourth quarter valued at approximately $28,000. Ancora Advisors LLC lifted its position in Allegion by 153.3% during the third quarter. Ancora Advisors LLC now owns 380 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 230 shares during the last quarter. Headinvest LLC bought a new position in Allegion during the third quarter valued at $48,000. Itau Unibanco Holding S.A. bought a new position in Allegion during the third quarter valued at $60,000. Finally, Signaturefd LLC lifted its holdings in shares of Allegion by 37.9% in the 3rd quarter. Signaturefd LLC now owns 633 shares of the scientific and technical instruments company’s stock worth $66,000 after acquiring an additional 174 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Insider Transactions at Allegion

In related news, VP Timothy P. Eckersley sold 5,047 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the completion of the sale, the vice president now owns 35,567 shares of the company’s stock, valued at $4,623,354.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Allegion news, SVP Robert C. Martens sold 5,391 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total value of $716,140.44. Following the transaction, the senior vice president now owns 7,555 shares of the company’s stock, valued at $1,003,606.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Timothy P. Eckersley sold 5,047 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $129.99, for a total transaction of $656,059.53. Following the completion of the transaction, the vice president now directly owns 35,567 shares in the company, valued at approximately $4,623,354.33. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Allegion Price Performance

NYSE ALLE traded down $1.02 on Friday, hitting $123.85. The company had a trading volume of 975,466 shares, compared to its average volume of 489,776. The company has a market capitalization of $10.83 billion, a PE ratio of 20.20, a PEG ratio of 4.46 and a beta of 1.14. The company’s fifty day moving average price is $130.14 and its 200-day moving average price is $119.76. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.31 and a quick ratio of 0.85. Allegion plc has a 12-month low of $95.94 and a 12-month high of $136.91.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.41 by $0.14. The company had revenue of $893.90 million during the quarter, compared to analyst estimates of $888.27 million. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 EPS. As a group, analysts predict that Allegion plc will post 7.08 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, June 13th. Allegion’s payout ratio is 31.32%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ALLE. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Barclays lifted their price objective on shares of Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company cut shares of Allegion from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $139.00 to $140.00 in a research note on Wednesday, February 21st. UBS Group lifted their price objective on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Mizuho cut shares of Allegion from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $140.00 to $141.00 in a research note on Friday, February 23rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $127.83.

Allegion 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.