Mackenzie Financial Corp Decreases Stock Holdings in Allegion plc (NYSE:ALLE)

Mackenzie Financial Corp reduced its stake in shares of Allegion plc (NYSE:ALLE) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,255 shares of the scientific and technical instruments company’s stock after selling 23,313 shares during the quarter. Mackenzie Financial Corp owned approximately 0.44% of Allegion worth $48,681,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Allegion by 15.8% in the first quarter. BlackRock Inc. now owns 8,631,077 shares of the scientific and technical instruments company’s stock valued at $921,195,000 after buying an additional 1,176,087 shares during the last quarter. Boston Partners raised its stake in Allegion by 17.2% in the third quarter. Boston Partners now owns 5,613,219 shares of the scientific and technical instruments company’s stock valued at $584,157,000 after buying an additional 825,048 shares during the last quarter. Norges Bank purchased a new stake in Allegion in the fourth quarter valued at about $76,640,000. Hawk Ridge Capital Management LP purchased a new stake in Allegion in the third quarter valued at about $53,142,000. Finally, Lord Abbett & CO. LLC raised its stake in Allegion by 183.2% in the third quarter. Lord Abbett & CO. LLC now owns 774,325 shares of the scientific and technical instruments company’s stock valued at $80,684,000 after buying an additional 500,924 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO John H. Stone acquired 10,000 shares of Allegion stock in a transaction that occurred on Thursday, February 22nd. The shares were purchased at an average price of $132.41 per share, for a total transaction of $1,324,100.00. Following the completion of the transaction, the chief executive officer now owns 104,248 shares in the company, valued at approximately $13,803,477.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Allegion news, CEO John H. Stone bought 10,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was bought at an average price of $132.41 per share, with a total value of $1,324,100.00. Following the completion of the purchase, the chief executive officer now directly owns 104,248 shares in the company, valued at $13,803,477.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert C. Martens sold 5,391 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $132.84, for a total value of $716,140.44. Following the sale, the senior vice president now directly owns 7,555 shares of the company’s stock, valued at approximately $1,003,606.20. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Allegion Stock Down 0.4 %

Shares of ALLE opened at $126.39 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.85 and a debt-to-equity ratio of 1.22. Allegion plc has a 12 month low of $95.94 and a 12 month high of $136.91. The stock’s 50 day moving average is $131.05 and its two-hundred day moving average is $118.49. The firm has a market cap of $11.07 billion, a P/E ratio of 20.65, a PEG ratio of 4.59 and a beta of 1.14.

Allegion (NYSE:ALLE) last released its earnings results on Tuesday, February 20th. The scientific and technical instruments company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. The business had revenue of $897.40 million for the quarter, compared to the consensus estimate of $904.17 million. Allegion had a return on equity of 51.95% and a net margin of 14.80%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. Analysts predict that Allegion plc will post 7.01 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.92 dividend on an annualized basis and a yield of 1.52%. Allegion’s payout ratio is 31.37%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ALLE shares. UBS Group increased their price objective on Allegion from $113.00 to $132.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays raised their target price on Allegion from $121.00 to $122.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Mizuho lowered Allegion from a “buy” rating to a “neutral” rating and raised their target price for the stock from $140.00 to $141.00 in a report on Friday, February 23rd. StockNews.com raised Allegion from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company lowered Allegion from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $139.00 to $140.00 in a report on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $127.83.

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.