Contravisory Investment Management Inc. Makes New $531,000 Investment in Allegion plc (NYSE:ALLE)

Contravisory Investment Management Inc. acquired a new stake in shares of Allegion plc (NYSE:ALLE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,064 shares of the scientific and technical instruments company’s stock, valued at approximately $531,000.

Several other large investors have also recently made changes to their positions in ALLE. State Street Corp grew its stake in shares of Allegion by 1.2% in the 3rd quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after buying an additional 49,929 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Allegion by 2.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,741,165 shares of the scientific and technical instruments company’s stock worth $442,019,000 after purchasing an additional 91,011 shares during the period. Van ECK Associates Corp raised its holdings in shares of Allegion by 1.3% in the third quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock valued at $479,577,000 after acquiring an additional 39,905 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Allegion by 0.4% during the third quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock valued at $306,699,000 after purchasing an additional 8,023 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Allegion by 13.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock valued at $277,581,000 after buying an additional 232,395 shares during the period. 92.21% of the stock is owned by institutional investors.

Allegion Trading Up 1.0 %

Shares of NYSE:ALLE opened at $131.10 on Thursday. The company has a market capitalization of $11.40 billion, a PE ratio of 20.14, a PEG ratio of 3.35 and a beta of 1.11. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The business has a 50 day moving average of $136.30 and a two-hundred day moving average of $136.17. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Thursday, October 24th. The scientific and technical instruments company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.18. The company had revenue of $967.10 million for the quarter, compared to the consensus estimate of $970.70 million. Allegion had a return on equity of 45.64% and a net margin of 15.36%. Allegion’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.94 earnings per share. As a group, analysts forecast that Allegion plc will post 7.41 EPS for the current year.

Allegion Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.46%. The ex-dividend date was Tuesday, December 17th. Allegion’s payout ratio is 29.49%.

Analysts Set New Price Targets

Several brokerages have issued reports on ALLE. Robert W. Baird increased their target price on Allegion from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company decreased their price objective on Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Mizuho raised their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays cut their target price on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $140.83.

Insiders Place Their Bets

In other Allegion news, CEO John H. Stone acquired 7,500 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was bought at an average price of $140.70 per share, for a total transaction of $1,055,250.00. Following the acquisition, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Robert C. Martens sold 8,035 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $144.92, for a total value of $1,164,432.20. Following the completion of the sale, the senior vice president now owns 7,104 shares of the company’s stock, valued at $1,029,511.68. This trade represents a 53.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company 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.