PNC Financial Services Group Inc. Has $2.92 Million Position in Allegion plc (NYSE:ALLE)

PNC Financial Services Group Inc. grew its stake in Allegion plc (NYSE:ALLE) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,317 shares of the scientific and technical instruments company’s stock after purchasing an additional 613 shares during the period. PNC Financial Services Group Inc.’s holdings in Allegion were worth $2,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Allegion during the 3rd quarter worth approximately $28,000. Private Trust Co. NA raised its holdings in Allegion by 56.1% during the 4th quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 115 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Allegion by 33.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 402 shares of the scientific and technical instruments company’s stock worth $53,000 after purchasing an additional 101 shares during the last quarter. Global Retirement Partners LLC raised its holdings in Allegion by 207.7% during the 4th quarter. Global Retirement Partners LLC now owns 440 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 297 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in Allegion by 23.2% during the 4th quarter. IFP Advisors Inc now owns 452 shares of the scientific and technical instruments company’s stock worth $59,000 after purchasing an additional 85 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Allegion

In other news, Director Gregg C. Sengstack acquired 8,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were purchased at an average price of $125.24 per share, for a total transaction of $1,001,920.00. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, valued at $1,001,920. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tracy L. Kemp sold 2,032 shares of the business’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 transaction, the senior vice president now owns 10,273 shares in the company, valued at $1,302,000.02. The trade was a 16.51 % decrease in their position. 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. Insiders own 0.33% of the company’s stock.

Allegion Price Performance

ALLE opened at $124.96 on Friday. The firm’s fifty day moving average price is $129.75 and its two-hundred day moving average price is $136.88. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.04 and a quick ratio of 1.43. The company has a market capitalization of $10.78 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 3.97 and a beta of 1.11. Allegion plc has a 1 year low of $113.27 and a 1 year high of $156.10.

Allegion (NYSE:ALLE) last issued its quarterly earnings results on Tuesday, February 18th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.11. Allegion had a net margin of 15.84% and a return on equity of 45.12%. The company had revenue of $945.60 million during the quarter, compared to analyst estimates of $938.91 million. As a group, analysts anticipate 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. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. 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 1.63%. The ex-dividend date of this dividend is Friday, March 14th. Allegion’s payout ratio is currently 29.91%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ALLE shares. Wells Fargo & Company lowered their price objective on shares of Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Allegion from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley lifted their price target on shares of Allegion from $137.00 to $139.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Barclays reduced their price target on shares of Allegion from $134.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday, February 19th. Finally, Robert W. Baird reduced their price target on shares of Allegion from $152.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $138.33.

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.