Entropy Technologies LP Takes Position in Allegion plc (NYSE:ALLE)

Entropy Technologies LP acquired a new position in Allegion plc (NYSE:ALLE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,567 shares of the scientific and technical instruments company’s stock, valued at approximately $597,000.

Several other hedge funds have also recently bought and sold shares of the business. Cetera Investment Advisers boosted its stake in shares of Allegion by 5.3% during the 2nd quarter. Cetera Investment Advisers now owns 13,788 shares of the scientific and technical instruments company’s stock worth $1,629,000 after acquiring an additional 697 shares in the last quarter. GAMMA Investing LLC boosted its position in Allegion by 66.2% during the third quarter. GAMMA Investing LLC now owns 324 shares of the scientific and technical instruments company’s stock worth $47,000 after purchasing an additional 129 shares during the period. CWM LLC boosted its position in Allegion by 11.3% during the third quarter. CWM LLC now owns 3,358 shares of the scientific and technical instruments company’s stock worth $489,000 after purchasing an additional 340 shares during the period. Exchange Traded Concepts LLC acquired a new position in Allegion during the third quarter valued at approximately $94,000. Finally, Creative Planning raised its position in shares of Allegion by 9.1% in the third quarter. Creative Planning now owns 11,865 shares of the scientific and technical instruments company’s stock valued at $1,729,000 after purchasing an additional 988 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Allegion

In related news, CEO John H. Stone bought 7,500 shares of the company’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 acquisition, the chief executive officer now owns 120,481 shares in the company, valued at approximately $16,951,676.70. This represents a 6.64 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ALLE shares. Barclays decreased their price target on shares of Allegion from $137.00 to $134.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Morgan Stanley began coverage on Allegion in a report on Monday, January 6th. They issued an “equal weight” rating and a $137.00 target price on the stock. Robert W. Baird upped their price target on Allegion from $145.00 to $152.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company dropped their target price 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $140.83.

Allegion Stock Performance

Shares of NYSE ALLE opened at $131.60 on Wednesday. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 3.19 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 business has a fifty day simple moving average of $132.96 and a 200 day simple moving average of $137.56. The company has a current ratio of 1.71, a quick ratio of 1.29 and a debt-to-equity ratio of 1.26.

Allegion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. This is a boost from Allegion’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.55%. Allegion’s dividend payout ratio is currently 29.49%.

About Allegion

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.