Metis Global Partners LLC Buys 232 Shares of Allegion plc (NYSE:ALLE)

Metis Global Partners LLC grew its stake in Allegion plc (NYSE:ALLE) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,074 shares of the scientific and technical instruments company’s stock after purchasing an additional 232 shares during the quarter. Metis Global Partners LLC’s holdings in Allegion were worth $1,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ALLE. Schechter Investment Advisors LLC raised its holdings in Allegion by 3.9% in the fourth quarter. Schechter Investment Advisors LLC now owns 2,554 shares of the scientific and technical instruments company’s stock worth $324,000 after purchasing an additional 97 shares in the last quarter. Huntington National Bank increased its stake in shares of Allegion by 19.5% in the 3rd quarter. Huntington National Bank now owns 638 shares of the scientific and technical instruments company’s stock worth $66,000 after acquiring an additional 104 shares in the last quarter. Allworth Financial LP increased its stake in shares of Allegion by 11.8% in the 4th quarter. Allworth Financial LP now owns 982 shares of the scientific and technical instruments company’s stock worth $124,000 after acquiring an additional 104 shares in the last quarter. iA Global Asset Management Inc. lifted its position in Allegion by 5.4% during the 3rd quarter. iA Global Asset Management Inc. now owns 2,200 shares of the scientific and technical instruments company’s stock valued at $229,000 after acquiring an additional 112 shares during the period. Finally, Signaturefd LLC boosted its stake in Allegion by 20.9% during the fourth quarter. Signaturefd LLC now owns 765 shares of the scientific and technical instruments company’s stock worth $97,000 after acquiring an additional 132 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Allegion Trading Up 1.2 %

Shares of Allegion stock opened at $125.67 on Friday. Allegion plc has a 1 year low of $95.94 and a 1 year high of $136.91. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.31 and a quick ratio of 0.87. The stock has a market cap of $10.99 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 4.38 and a beta of 1.14. The firm has a fifty day moving average price of $129.02 and a 200 day moving average price of $120.95.

Allegion (NYSE:ALLE) last issued its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $893.90 million for the quarter, compared to the consensus estimate of $888.27 million. Allegion had a return on equity of 48.58% and a net margin of 14.93%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 earnings per share. Equities research analysts predict that Allegion plc will post 7.08 earnings per share for the current year.

Allegion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a yield of 1.53%. Allegion’s dividend payout ratio is currently 31.32%.

Insider Activity at Allegion

In other Allegion news, VP Timothy P. Eckersley sold 5,047 shares of the 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 in the company, valued at approximately $4,623,354.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Robert C. Martens sold 5,391 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total value of $716,140.44. Following the transaction, the senior vice president now directly owns 7,555 shares in the company, valued at $1,003,606.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Timothy P. Eckersley sold 5,047 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $129.99, for a total value of $656,059.53. Following the sale, the vice president now directly owns 35,567 shares of the company’s stock, valued at approximately $4,623,354.33. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

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.