Regents Gate Capital LLP Acquires New Stake in Allegion plc (NYSE:ALLE)

Regents Gate Capital LLP bought a new position in Allegion plc (NYSE:ALLE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 58,235 shares of the scientific and technical instruments company’s stock, valued at approximately $7,610,000. Allegion comprises about 3.0% of Regents Gate Capital LLP’s investment portfolio, making the stock its 12th largest position.

Other large investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in Allegion during the third quarter valued at $4,988,000. Qsemble Capital Management LP purchased a new position in shares of Allegion during the 3rd quarter valued at about $891,000. Nordea Investment Management AB grew its stake in shares of Allegion by 4.4% during the 4th quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock valued at $154,643,000 after acquiring an additional 49,176 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Allegion by 4.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,643 shares of the scientific and technical instruments company’s stock worth $1,260,000 after acquiring an additional 340 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Allegion by 31.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 801,520 shares of the scientific and technical instruments company’s stock worth $116,814,000 after acquiring an additional 192,609 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Insider Activity

In other Allegion news, CEO John H. Stone purchased 7,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $140.70 per share, with a total value 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.33% of the company’s stock.

Allegion Trading Down 0.5 %

Shares of ALLE stock opened at $128.64 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 3.19 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 stock’s 50-day moving average price is $133.15 and its 200-day moving average price is $137.51.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. This is an increase from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 1.59%. Allegion’s payout ratio is presently 29.49%.

Analyst Ratings Changes

A number of equities analysts have weighed in on ALLE shares. Robert W. Baird upped their price target on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Morgan Stanley started coverage on shares of Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price for the company. Wells Fargo & Company decreased their price target on Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Mizuho lifted their target price on Allegion from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $140.83.

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.