MJP Associates Inc. ADV Invests $213,000 in Allegion plc (NYSE:ALLE)

MJP Associates Inc. ADV bought a new position in Allegion plc (NYSE:ALLE) in the 4th quarter, HoldingsChannel reports. The fund bought 1,678 shares of the scientific and technical instruments company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Captrust Financial Advisors boosted its position in shares of Allegion by 1.8% in the fourth quarter. Captrust Financial Advisors now owns 4,601 shares of the scientific and technical instruments company’s stock worth $484,000 after buying an additional 83 shares during the period. Horizon Investments LLC boosted its position in Allegion by 7.1% during the second quarter. Horizon Investments LLC now owns 1,414 shares of the scientific and technical instruments company’s stock valued at $170,000 after purchasing an additional 94 shares during the last quarter. Schechter Investment Advisors LLC boosted its position in Allegion by 3.9% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,554 shares of the scientific and technical instruments company’s stock valued at $324,000 after purchasing an additional 97 shares during the last quarter. Huntington National Bank boosted its position in Allegion by 19.5% during the third quarter. Huntington National Bank now owns 638 shares of the scientific and technical instruments company’s stock valued at $66,000 after purchasing an additional 104 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its position in Allegion by 5.4% during the third quarter. iA Global Asset Management Inc. now owns 2,200 shares of the scientific and technical instruments company’s stock valued at $229,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ALLE. Mizuho cut Allegion from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $140.00 to $141.00 in a research report on Friday, February 23rd. Wells Fargo & Company cut Allegion from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $139.00 to $140.00 in a research report on Wednesday, February 21st. Finally, Barclays lifted their price objective on Allegion from $119.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $125.50.

Allegion Stock Up 0.4 %

Shares of NYSE:ALLE traded up $0.47 on Thursday, reaching $134.71. The company had a trading volume of 331,763 shares, compared to its average volume of 775,549. Allegion plc has a twelve month low of $95.94 and a twelve month high of $136.91. The stock has a 50-day moving average price of $129.38 and a 200 day moving average price of $115.99. The stock has a market capitalization of $11.79 billion, a P/E ratio of 21.93, a P/E/G ratio of 4.81 and a beta of 1.13. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 1.22.

Allegion (NYSE:ALLE) last posted its quarterly earnings data on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $897.40 million for the quarter, compared to analyst estimates of $904.17 million. Allegion had a return on equity of 51.95% and a net margin of 14.80%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. On average, equities analysts expect that Allegion plc will post 7.01 EPS for the current year.

Allegion Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Allegion’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.43%. Allegion’s payout ratio is presently 31.37%.

Insider Transactions at Allegion

In related news, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $129.99, for a total transaction of $656,059.53. Following the transaction, the vice president now directly owns 35,567 shares in the company, valued at $4,623,354.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Timothy P. Eckersley sold 5,047 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $129.99, for a total transaction of $656,059.53. Following the transaction, the vice president now directly owns 35,567 shares in the company, valued at $4,623,354.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert C. Martens sold 5,391 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $132.84, for a total value of $716,140.44. Following the completion of the sale, the senior vice president now owns 7,555 shares in the company, valued at $1,003,606.20. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

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.