DnB Asset Management AS Has $3.41 Million Stock Position in Allegion plc (NYSE:ALLE)

DnB Asset Management AS cut its stake in shares of Allegion plc (NYSE:ALLE) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,095 shares of the scientific and technical instruments company’s stock after selling 408 shares during the period. DnB Asset Management AS’s holdings in Allegion were worth $3,410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Millstone Evans Group LLC acquired a new stake in Allegion in the fourth quarter worth $28,000. Atala Financial Inc acquired a new stake in Allegion during the 4th quarter worth $35,000. Private Trust Co. NA lifted its holdings in Allegion by 56.1% during the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock worth $42,000 after acquiring an additional 115 shares in the last quarter. Tortoise Investment Management LLC grew its stake in Allegion by 78.0% in 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 during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Allegion by 33.6% in the fourth 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 in the last quarter. Institutional investors own 92.21% of the company’s stock.

Insider Transactions at Allegion

In other news, SVP David S. Ilardi sold 789 shares of Allegion 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 completion of the transaction, the senior vice president now directly owns 9,625 shares in the company, valued at approximately $1,205,820. The trade was a 7.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Nickolas A. Musial sold 403 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $124.70, for a total value of $50,254.10. Following the completion of the sale, the chief accounting officer now owns 4,972 shares in the company, valued at approximately $620,008.40. This trade represents a 7.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,224 shares of company stock worth $406,636 in the last ninety days. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALLE. Wells Fargo & Company cut their price objective on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Barclays reduced their price target on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating for the company in a report on Wednesday, March 26th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Robert W. Baird reduced their target price on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, Morgan Stanley increased their target price on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $137.67.

Allegion Stock Up 1.8 %

Shares of ALLE stock opened at $130.58 on Tuesday. The firm’s fifty day moving average price is $129.48 and its two-hundred day moving average price is $136.19. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10. The firm has a market capitalization of $11.27 billion, a P/E ratio of 19.15, a PEG ratio of 3.97 and a beta of 1.11.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. The business had revenue of $945.60 million for 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%. On average, equities analysts predict that Allegion plc will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio (DPR) is 29.91%.

Allegion 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.