Allegion PLC (ALLE) Position Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Allegion PLC (NYSE:ALLE) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 943,814 shares of the scientific and technical instruments company’s stock after selling 72,811 shares during the period. Bank of New York Mellon Corp owned 0.99% of Allegion worth $75,231,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ledyard National Bank purchased a new stake in Allegion during the fourth quarter worth $53,000. Exane Asset Management purchased a new position in Allegion during the fourth quarter valued at $78,000. Enlightenment Research LLC purchased a new position in Allegion during the fourth quarter valued at $88,000. Stratos Wealth Partners LTD. purchased a new position in Allegion during the third quarter valued at $189,000. Finally, Baldwin Investment Management LLC purchased a new position in Allegion during the third quarter valued at $204,000. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

ALLE opened at $88.77 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.25 and a debt-to-equity ratio of 2.16. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 1.43 and a beta of 1.18. Allegion PLC has a 52-week low of $73.85 and a 52-week high of $94.30.

Allegion (NYSE:ALLE) last posted its quarterly earnings results on Tuesday, February 19th. The scientific and technical instruments company reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.01. The firm had revenue of $702.40 million for the quarter, compared to the consensus estimate of $703.17 million. Allegion had a net margin of 15.92% and a return on equity of 77.42%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $1.11 earnings per share. On average, research analysts anticipate that Allegion PLC will post 4.86 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.27 dividend. This is an increase from Allegion’s previous quarterly dividend of $0.21. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, March 14th. Allegion’s dividend payout ratio (DPR) is currently 18.67%.

Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Allegion from a “sell” rating to a “hold” rating in a report on Tuesday, February 19th. ValuEngine downgraded shares of Allegion from a “buy” rating to a “hold” rating in a report on Wednesday, December 5th. Goldman Sachs Group downgraded shares of Allegion from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $98.00 to $92.00 in a report on Wednesday, February 20th. Finally, Morgan Stanley set a $92.00 price objective on shares of Allegion and gave the company a “hold” rating in a report on Wednesday, February 20th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Allegion has a consensus rating of “Hold” and a consensus price target of $94.40.

In other news, VP Chris E. Muhlenkamp sold 618 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $91.56, for a total value of $56,584.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Tracy L. Kemp sold 2,793 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $90.53, for a total transaction of $252,850.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,095 shares of company stock worth $4,858,047. Insiders own 0.75% of the company’s stock.

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About Allegion

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers and controls; doors and door systems; electronic security products; electronic, biometric and mobile access control systems; exit devices; locks, locksets, portable locks, and key systems; time, attendance, and workforce productivity systems; and other accessories.

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Institutional Ownership by Quarter for Allegion (NYSE:ALLE)

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