Tower Research Capital LLC TRC Grows Position in Allegion plc (NYSE:ALLE)

by · The Cerbat Gem

Tower Research Capital LLC TRC grew its stake in Allegion plc (NYSE:ALLE – Free Report) by 310.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,766 shares of the scientific and technical instruments company’s stock after buying an additional 5,119 shares during the period. Tower Research Capital LLC TRC’s holdings in Allegion were worth $884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Crew Capital Management Ltd. increased its holdings in 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 worth $759,000 after buying an additional 4,022 shares during the period. Renaissance Technologies LLC increased its stake in shares of Allegion by 438.6% in the fourth quarter. Renaissance Technologies LLC now owns 267,700 shares of the scientific and technical instruments company’s stock worth $34,983,000 after acquiring an additional 218,000 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings 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 worth $26,724,000 after purchasing an additional 8,806 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Allegion by 73.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 18,761 shares of the scientific and technical instruments company’s stock valued at $2,452,000 after purchasing an additional 7,950 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in Allegion in the fourth quarter valued at $4,398,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Allegion Price Performance

Allegion stock opened at $136.50 on Friday. The stock has a market capitalization of $11.76 billion, a P/E ratio of 20.01, a P/E/G ratio of 3.97 and a beta of 1.01. The company’s fifty day moving average price is $127.27 and its 200 day moving average price is $133.78. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.43 and a current ratio of 2.04. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10.

Allegion (NYSE:ALLE – Get Free Report) last announced its earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.18. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The business had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. As a group, equities research analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.49%. Allegion’s payout ratio is currently 29.91%.

Analyst Ratings Changes

ALLE has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on Allegion from $144.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday. StockNews.com downgraded Allegion from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Wells Fargo & Company dropped their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley boosted their target price on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Finally, Barclays raised their price target on shares of Allegion from $126.00 to $128.00 and gave the company an “underweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $140.40.

View Our Latest Stock Report on Allegion

Insider Activity

In related news, SVP Tracy L. Kemp sold 2,032 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $126.74, for a total transaction of $257,535.68. Following the completion of the sale, the senior vice president now owns 10,273 shares of the company’s stock, valued at approximately $1,302,000.02. This represents a 16.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nickolas A. Musial sold 403 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $124.70, for a total transaction of $50,254.10. Following the completion of the transaction, the chief accounting officer now directly owns 4,972 shares in the company, valued at $620,008.40. This trade represents a 7.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,224 shares of company stock worth $406,636 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Allegion Profile

(Free Report)

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.

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