Royal Bank of Canada Boosts Position in Allegion plc (NYSE:ALLE)

Royal Bank of Canada grew its position in Allegion plc (NYSE:ALLE) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 221,685 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,700 shares during the quarter. Royal Bank of Canada owned about 0.26% of Allegion worth $28,969,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in shares of Allegion in the fourth quarter valued at approximately $28,000. Colonial Trust Co SC boosted its holdings in shares of Allegion by 192.9% in the fourth quarter. Colonial Trust Co SC now owns 249 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 164 shares during the period. Atala Financial Inc acquired a new stake in shares of Allegion in the fourth quarter valued at approximately $35,000. GeoWealth Management LLC boosted its holdings in shares of Allegion by 259.3% in the fourth quarter. GeoWealth Management LLC now owns 309 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 223 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of Allegion by 56.1% in the fourth quarter. Private Trust Co. NA now owns 320 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 115 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Allegion Trading Down 0.2%

NYSE:ALLE opened at $141.31 on Friday. The stock has a fifty day moving average price of $132.56 and a two-hundred day moving average price of $133.16. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 3.97 and a beta of 1.02. 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) last released its quarterly earnings data on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.18. The firm had revenue of $941.90 million during the quarter, compared to analysts’ expectations of $918.53 million. Allegion had a return on equity of 45.12% and a net margin of 15.84%. Allegion’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.55 earnings per share. As a group, sell-side analysts anticipate that Allegion plc will post 7.77 earnings per share for the current fiscal year.

Allegion Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, June 13th. Allegion’s payout ratio is 28.65%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen cut Allegion from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Barclays upped their price target on Allegion from $126.00 to $128.00 and gave the stock an “underweight” rating in a research note on Friday, April 25th. Robert W. Baird upped their price target on Allegion from $144.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Wells Fargo & Company cut their price target on Allegion from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Finally, Morgan Stanley upped their price target on Allegion from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, Allegion currently has a consensus rating of “Hold” and a consensus price target of $140.40.

Insiders Place Their Bets

In other Allegion news, SVP Tracy L. Kemp sold 2,032 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $126.74, for a total value of $257,535.68. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David S. Ilardi sold 789 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $125.28, for a total value of $98,845.92. Following the completion of the sale, the senior vice president now directly owns 9,625 shares in the company, valued at $1,205,820. This trade represents a 7.58% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company 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.