Meiji Yasuda Asset Management Co Ltd. Invests $269,000 in Allegion plc (NYSE:ALLE)

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Allegion plc (NYSE:ALLE) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,060 shares of the scientific and technical instruments company’s stock, valued at approximately $269,000.

A number of other large investors have also bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Allegion in the 3rd quarter worth approximately $4,988,000. Crew Capital Management Ltd. lifted its stake in shares of Allegion by 224.9% in the 4th quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company’s stock valued at $759,000 after purchasing an additional 4,022 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Allegion by 4.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 204,500 shares of the scientific and technical instruments company’s stock valued at $26,724,000 after purchasing an additional 8,806 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Allegion by 73.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 18,761 shares of the scientific and technical instruments company’s stock worth $2,452,000 after purchasing an additional 7,950 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Allegion by 4.4% in the fourth quarter. Nordea Investment Management AB now owns 1,175,995 shares of the scientific and technical instruments company’s stock worth $154,643,000 after purchasing an additional 49,176 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Allegion from $130.00 to $126.00 and set an “underweight” rating on the stock in a research report on Wednesday. Morgan Stanley lifted their target price on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Robert W. Baird dropped their price target on Allegion from $152.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. StockNews.com lowered Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Wells Fargo & Company dropped their target price on Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. One investment 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 a consensus rating of “Hold” and an average target price of $137.67.

Allegion Stock Down 1.4 %

ALLE stock opened at $128.32 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. Allegion plc has a 1-year low of $113.27 and a 1-year high of $156.10. The stock has a market capitalization of $11.07 billion, a P/E ratio of 18.82, a P/E/G ratio of 3.97 and a beta of 1.11. The business has a fifty day moving average price of $129.55 and a 200-day moving average price of $136.25.

Allegion (NYSE:ALLE) last issued its quarterly earnings data on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.11. The company had revenue of $945.60 million for the quarter, compared to the consensus estimate of $938.91 million. Allegion had a net margin of 15.84% and a return on equity of 45.12%. Equities analysts forecast that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Allegion’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.59%. Allegion’s payout ratio is 29.91%.

Insider Buying and Selling

In related news, Director Gregg C. Sengstack bought 8,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were purchased at an average price of $125.24 per share, with a total value of $1,001,920.00. Following the completion of the acquisition, the director now owns 8,000 shares of the company’s stock, valued at $1,001,920. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the transaction, the senior vice president now directly owns 10,273 shares of the company’s stock, valued at $1,302,000.02. The trade was a 16.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,224 shares of company stock valued at $406,636. 0.33% of the stock is owned by corporate insiders.

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.