Corient Private Wealth LLC Trims Stock Holdings in Allegion plc (NYSE:ALLE)

Corient Private Wealth LLC reduced its stake in Allegion plc (NYSE:ALLE) by 13.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,266 shares of the scientific and technical instruments company’s stock after selling 1,253 shares during the period. Corient Private Wealth LLC’s holdings in Allegion were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new position in Allegion in the 3rd quarter worth about $28,000. Atala Financial Inc purchased a new stake in shares of Allegion in the fourth quarter worth about $35,000. Private Trust Co. NA boosted its position in shares of Allegion by 56.1% in the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 115 shares during the period. Tortoise Investment Management LLC grew its stake in Allegion by 78.0% during the fourth quarter. Tortoise Investment Management LLC now owns 388 shares of the scientific and technical instruments company’s stock valued at $51,000 after acquiring an additional 170 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Allegion by 33.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock worth $53,000 after acquiring an additional 101 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Allegion Price Performance

Shares of Allegion stock opened at $130.44 on Thursday. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 3.97 and a beta of 1.11. The company has a fifty day moving average of $129.70 and a 200-day moving average of $136.34. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The company had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Equities research analysts expect that Allegion plc will post 7.77 EPS for the current year.

Allegion Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, March 14th. This is a positive change from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is 29.91%.

Insider Buying and Selling at Allegion

In other news, SVP David S. Ilardi sold 789 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $125.28, for a total transaction of $98,845.92. Following the transaction, the senior vice president now directly owns 9,625 shares of the company’s stock, valued at approximately $1,205,820. The trade was a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following the completion of the sale, the senior vice president now directly owns 10,273 shares of the company’s stock, valued at $1,302,000.02. The trade was a 16.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,224 shares of company stock worth $406,636. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALLE. Wells Fargo & Company reduced their price target on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Robert W. Baird dropped their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Morgan Stanley upped their price objective on shares of Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Finally, Barclays dropped their target price on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Allegion currently has an average rating of “Hold” and an average price target of $137.67.

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.