Allegion plc (NYSE:ALLE) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lessened its stake in shares of Allegion plc (NYSE:ALLE) by 38.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,460 shares of the scientific and technical instruments company’s stock after selling 8,572 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Allegion were worth $1,759,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. McClarren Financial Advisors Inc. increased its stake in shares of Allegion by 61.0% during the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 72 shares during the period. Brooklyn Investment Group acquired a new position in shares of Allegion during the third quarter valued at approximately $28,000. Concord Wealth Partners acquired a new position in Allegion in the third quarter worth approximately $29,000. Cromwell Holdings LLC grew its position in Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 92 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Allegion by 66.2% in the third quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock worth $47,000 after buying an additional 129 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Mizuho lifted their price target on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. StockNews.com lowered shares of Allegion from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Wells Fargo & Company decreased their price target on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley initiated coverage on shares of Allegion in a research report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 price target on the stock. Finally, Barclays lowered their price objective on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $140.83.

Insider Buying and Selling at Allegion

In related news, CEO John H. Stone bought 7,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was bought at an average price of $140.70 per share, with a total value of $1,055,250.00. Following the purchase, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.33% of the company’s stock.

Allegion Trading Up 1.9 %

NYSE ALLE opened at $133.51 on Friday. Allegion plc has a twelve month low of $113.27 and a twelve month high of $156.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.29 and a current ratio of 1.71. The stock has a market cap of $11.61 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 3.26 and a beta of 1.11. The firm’s 50 day moving average price is $134.73 and its two-hundred day moving average price is $137.31.

Allegion Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Tuesday, December 17th. Allegion’s dividend payout ratio (DPR) is currently 29.49%.

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.