Allegion plc (NYSE:ALLE) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lowered its position in shares of Allegion plc (NYSE:ALLE) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,815 shares of the scientific and technical instruments company’s stock after selling 294 shares during the period. Panagora Asset Management Inc.’s holdings in Allegion were worth $1,243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB grew its stake in shares of Allegion by 1.8% during the fourth quarter. Nordea Investment Management AB now owns 1,310,495 shares of the scientific and technical instruments company’s stock worth $165,516,000 after purchasing an additional 23,155 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Allegion by 214.1% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 242,313 shares of the scientific and technical instruments company’s stock worth $30,699,000 after purchasing an additional 165,165 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Allegion by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 850,987 shares of the scientific and technical instruments company’s stock worth $107,813,000 after purchasing an additional 19,981 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Allegion by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 731,311 shares of the scientific and technical instruments company’s stock worth $92,650,000 after purchasing an additional 19,284 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Allegion by 15.9% during the fourth quarter. Van ECK Associates Corp now owns 3,215,649 shares of the scientific and technical instruments company’s stock worth $407,391,000 after purchasing an additional 441,882 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Allegion Price Performance

Shares of ALLE opened at $123.07 on Thursday. Allegion plc has a fifty-two week low of $95.94 and a fifty-two week high of $136.91. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 4.40 and a beta of 1.14. The firm has a 50-day simple moving average of $128.12 and a 200-day simple moving average of $122.81. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.87 and a current ratio of 1.31.

Allegion (NYSE:ALLE) last announced its earnings results on Thursday, April 25th. The scientific and technical instruments company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. Allegion had a net margin of 14.93% and a return on equity of 48.58%. The business had revenue of $893.90 million during the quarter, compared to the consensus estimate of $888.27 million. During the same quarter in the prior year, the firm earned $1.58 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Allegion plc will post 7.08 earnings per share for the current year.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.92 annualized dividend and a dividend yield of 1.56%. Allegion’s dividend payout ratio (DPR) is 31.32%.

Analyst Ratings Changes

ALLE has been the subject of a number of analyst reports. Barclays boosted their target price on shares of Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Mizuho cut shares of Allegion from a “buy” rating to a “neutral” rating and boosted their price target for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Wells Fargo & Company cut shares of Allegion from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $139.00 to $140.00 in a research report on Wednesday, February 21st. UBS Group boosted their price target on shares of Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, StockNews.com raised shares of Allegion from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Allegion has an average rating of “Hold” and a consensus price target of $127.83.

Insider Transactions at Allegion

In related news, VP Timothy P. Eckersley sold 5,047 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $129.99, for a total value of $656,059.53. Following the completion of the sale, the vice president now owns 35,567 shares in the company, valued at $4,623,354.33. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

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.