Forsta AP Fonden Sells 1,300 Shares of Allegion plc (NYSE:ALLE)

Forsta AP Fonden trimmed its holdings in shares of Allegion plc (NYSE:ALLE) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,200 shares of the scientific and technical instruments company’s stock after selling 1,300 shares during the period. Forsta AP Fonden’s holdings in Allegion were worth $4,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALLE. McClarren Financial Advisors Inc. raised its position in Allegion by 61.0% in the third quarter. McClarren Financial Advisors Inc. now owns 190 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 72 shares during the period. Brooklyn Investment Group bought a new stake in shares of Allegion in the 3rd quarter worth approximately $28,000. Concord Wealth Partners bought a new position in Allegion during the third quarter valued at $29,000. Cromwell Holdings LLC increased its position in Allegion by 65.2% in the third quarter. Cromwell Holdings LLC now owns 233 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 92 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Allegion by 56.0% in the second quarter. Quarry LP now owns 379 shares of the scientific and technical instruments company’s stock valued at $45,000 after buying an additional 136 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Allegion Stock Down 0.6 %

Shares of NYSE:ALLE opened at $132.77 on Friday. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 3.24 and a beta of 1.11. Allegion plc has a one year low of $113.27 and a one year high of $156.10. The firm has a fifty day moving average price of $134.40 and a two-hundred day moving average price of $137.36. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.71 and a quick ratio of 1.29.

Allegion Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.48 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $1.92 dividend on an annualized basis and a yield of 1.45%. Allegion’s dividend payout ratio is currently 29.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALLE shares. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Wells Fargo & Company lowered their price target on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird raised their price objective on shares of Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Morgan Stanley started coverage on shares of Allegion in a report on Monday, January 6th. They set an “equal weight” rating and a $137.00 target price on the stock. Finally, Mizuho raised their price target on Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $140.83.

Insider Buying and Selling at Allegion

In related news, CEO John H. Stone bought 7,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the purchase, the chief executive officer now directly owns 120,481 shares of the company’s stock, valued at $16,951,676.70. This trade represents a 6.64 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

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.