Stoneridge Investment Partners LLC Buys Shares of 17,477 Allegion plc (NYSE:ALLE)

Stoneridge Investment Partners LLC purchased a new position in shares of Allegion plc (NYSE:ALLE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 17,477 shares of the scientific and technical instruments company’s stock, valued at approximately $2,284,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in Allegion by 1.2% during the third quarter. State Street Corp now owns 4,045,966 shares of the scientific and technical instruments company’s stock worth $589,659,000 after buying an additional 49,929 shares during the period. Van ECK Associates Corp increased its holdings in Allegion by 1.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,178,952 shares of the scientific and technical instruments company’s stock valued at $479,577,000 after purchasing an additional 39,905 shares during the last quarter. Geode Capital Management LLC raised its position in Allegion by 0.4% in the third quarter. Geode Capital Management LLC now owns 2,111,414 shares of the scientific and technical instruments company’s stock valued at $306,699,000 after purchasing an additional 8,023 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Allegion by 13.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,904,632 shares of the scientific and technical instruments company’s stock worth $277,581,000 after purchasing an additional 232,395 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of Allegion by 96.8% during the third quarter. Lord Abbett & CO. LLC now owns 1,674,644 shares of the scientific and technical instruments company’s stock worth $244,063,000 after buying an additional 823,874 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insiders Place Their Bets

In other news, CEO John H. Stone acquired 7,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average cost of $140.70 per share, with a total value of $1,055,250.00. Following the completion of the acquisition, the chief executive officer now owns 120,481 shares of the company’s stock, valued at $16,951,676.70. The trade was a 6.64 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ALLE shares. Barclays cut their price objective on Allegion from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley assumed coverage on shares of Allegion in a research note on Monday, January 6th. They set an “equal weight” rating and a $137.00 price target on the stock. StockNews.com upgraded shares of Allegion from a “hold” rating to a “buy” rating in a report on Thursday. Mizuho upped their target price on shares of Allegion from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company decreased their price target on shares of Allegion from $152.00 to $140.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $140.83.

Allegion Stock Performance

Shares of ALLE opened at $128.64 on Friday. The company has a market capitalization of $11.18 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 3.19 and a beta of 1.11. Allegion plc has a 52-week low of $113.27 and a 52-week high of $156.10. The company has a quick ratio of 1.29, a current ratio of 1.71 and a debt-to-equity ratio of 1.26. The stock has a 50 day moving average price of $133.15 and a 200 day moving average price of $137.43.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.48. Allegion’s dividend payout ratio is currently 29.49%.

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.