Victory Capital Management Inc. Grows Stock Position in Allegion plc (NYSE:ALLE)

Victory Capital Management Inc. lifted its stake in Allegion plc (NYSE:ALLEFree Report) by 42.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,323 shares of the scientific and technical instruments company’s stock after buying an additional 9,660 shares during the period. Victory Capital Management Inc.’s holdings in Allegion were worth $3,368,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Ieq Capital LLC purchased a new position in shares of Allegion in the third quarter worth about $217,000. Centric Wealth Management increased its holdings in Allegion by 17.3% during the 3rd quarter. Centric Wealth Management now owns 25,241 shares of the scientific and technical instruments company’s stock valued at $2,630,000 after purchasing an additional 3,717 shares during the period. Signaturefd LLC increased its holdings in Allegion by 37.9% during the 3rd quarter. Signaturefd LLC now owns 633 shares of the scientific and technical instruments company’s stock valued at $66,000 after purchasing an additional 174 shares during the period. C WorldWide Group Holding A S increased its holdings in Allegion by 0.3% during the 3rd quarter. C WorldWide Group Holding A S now owns 118,050 shares of the scientific and technical instruments company’s stock valued at $12,301,000 after purchasing an additional 407 shares during the period. Finally, Advisor OS LLC increased its holdings in Allegion by 4.0% during the 3rd quarter. Advisor OS LLC now owns 7,012 shares of the scientific and technical instruments company’s stock valued at $731,000 after purchasing an additional 267 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLE has been the topic of a number of research analyst reports. Vertical Research downgraded Allegion from a “buy” rating to a “hold” rating and reduced their price target for the company from $128.00 to $100.00 in a report on Thursday, October 19th. Wells Fargo & Company upped their target price on Allegion from $119.00 to $139.00 and gave the stock an “overweight” rating in a report on Tuesday, December 19th. Finally, Barclays downgraded Allegion from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $130.00 to $119.00 in a report on Monday, December 4th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $122.29.

Read Our Latest Stock Analysis on ALLE

Insider Transactions at Allegion

In other news, SVP Robert C. Martens sold 4,068 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $110.52, for a total value of $449,595.36. Following the sale, the senior vice president now directly owns 6,714 shares of the company’s stock, valued at approximately $742,031.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

Allegion Stock Performance

Shares of ALLE opened at $130.52 on Friday. The company has a quick ratio of 1.31, a current ratio of 2.03 and a debt-to-equity ratio of 1.63. The business’s 50 day moving average price is $120.39 and its 200-day moving average price is $111.39. Allegion plc has a 52 week low of $95.94 and a 52 week high of $130.59. The stock has a market cap of $11.46 billion, a P/E ratio of 20.68, a P/E/G ratio of 3.65 and a beta of 1.14.

Allegion Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a $0.48 dividend. This is a boost from Allegion’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.47%. Allegion’s payout ratio is currently 28.53%.

Allegion Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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