Mirae Asset Global Investments Co. Ltd. Reduces Holdings in Allegion plc (NYSE:ALLE)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Allegion plc (NYSE:ALLE) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,048 shares of the scientific and technical instruments company’s stock after selling 210 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Allegion were worth $1,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its stake in Allegion by 15.8% during the 1st quarter. BlackRock Inc. now owns 8,631,077 shares of the scientific and technical instruments company’s stock valued at $921,195,000 after purchasing an additional 1,176,087 shares in the last quarter. Boston Partners increased its stake in Allegion by 17.2% during the 3rd quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company’s stock valued at $584,157,000 after purchasing an additional 825,048 shares in the last quarter. Norges Bank bought a new stake in Allegion during the 4th quarter valued at about $76,640,000. Hawk Ridge Capital Management LP purchased a new stake in shares of Allegion during the 3rd quarter valued at about $53,142,000. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Allegion by 183.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 774,325 shares of the scientific and technical instruments company’s stock valued at $80,684,000 after acquiring an additional 500,924 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Allegion news, VP Timothy P. Eckersley sold 5,047 shares of Allegion stock in a transaction on Monday, March 11th. The shares were sold at an average price of $129.99, for a total transaction of $656,059.53. Following the completion of the transaction, the vice president now directly owns 35,567 shares of the company’s stock, valued at $4,623,354.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO John H. Stone bought 10,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was purchased at an average cost of $132.41 per share, with a total value of $1,324,100.00. Following the completion of the purchase, the chief executive officer now owns 104,248 shares of the company’s stock, valued at $13,803,477.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $129.99, for a total transaction of $656,059.53. Following the sale, the vice president now directly owns 35,567 shares of the company’s stock, valued at $4,623,354.33. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Allegion Trading Up 0.3 %

Allegion stock opened at $125.18 on Friday. The stock has a market cap of $10.96 billion, a P/E ratio of 20.45, a PEG ratio of 4.53 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 0.85. Allegion plc has a 1 year low of $95.94 and a 1 year high of $136.91. The firm’s 50 day moving average price is $130.79 and its 200-day moving average price is $118.89.

Allegion (NYSE:ALLE) last announced its quarterly earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. Allegion had a net margin of 14.80% and a return on equity of 51.95%. The company had revenue of $897.40 million for the quarter, compared to analysts’ expectations of $904.17 million. During the same quarter in the previous year, the business posted $1.60 earnings per share. Allegion’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts predict that Allegion plc will post 7.01 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.53%. The ex-dividend date is Thursday, June 13th. Allegion’s payout ratio is 31.37%.

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.